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The team overseeing the construction of a garden city in Kent has taken more risk away from housebuilders with a £30 million deal to buy-in electricity.
Ebbsfleet Development Corporation believes developers will be more comfortable building more homes in the new town between Gravesend and Dartford after its agreement with UK Power Networks.
It means it will pay for new electricity sub-stations and connections – rather than the housebuilders – and then be able to claim back the money from future payments for electricity by developers.
It is the first time a public body has invested in this way, with the aim to help it reach its target of 5,100 homes completed by 2021.
More than 600 homes were started in Ebbsfleet Garden City in the last year.
Pylons between Northfleet East Grid in Pepperhill will carry 77 Mega Volt Amps to the previously decommissioned Northfleet West station in Ebbsfleet Green, just off the A2, plus two new primary substations.
Ebbsfleet Development Corporation’s interim chief executive Paul Spooner said it is crucial private housebuilders know the electricity infrastructure will be there already.
He said: “It also future-proofs the garden city by providing enough supply not only for 15,000 households but for our new city centre, unlocking land to investors for homes, businesses and leisure developments.
“Without this intervention, developers faced significant costs to get the fundamental connection infrastructure, but now they will pay for what they need and their investment in the supply goes straight back into the public purse.”