Able has received development consent order from the UK Government for a £450m marine energy park to serve the offshore renewable industry from the Humber.
The Able Marine Energy Park (AMEP) will provide quayside facilities for the manufacture, assembly and installation of offshore renewable technologies at the 2,135-acre Able Humber Port, which is claimed to the largest site available for port-related developments in Europe.
The decision has been subject to a series of delays, and follows an extensive planning process that include measures by the company to develop a £60m package protecting wildlife and the environment.
Construction on the project covering 906 acres will begin in early 2014 with completion expected in 2016, if no objections are made within the next six weeks.
The park is located at the centre of the largest enterprise zone in the UK. which covers both sides of the Humber, and is expected to create 4,000 local direct construction jobs.
The park will act as a catalyst to establish the Humber-wide creation of a cluster of renewable energy companies, both large and small.
Having already invested more than £50m in the first stage of its development, the company secured approval for the Able Logistics Park, which will include warehousing and external storage areas, offices, a business park and ancillary services.
The decision comes soon after the naming the park as preferred location by STRABAG Offshore Wind for a new UK production facility for the mass production of gravity-based foundations for the offshore wind sector.
The site will host several manufacturers and the vital supply chain on one site and help reduce the cost of the renewable energy source.
Able founder and executive chairman Peter Stephenson said the development of the park is important for the region and the whole of the UK economy.
"During the public hearings into our plans for AMEP, its significance was compared to the impact of the Nissan development in the north-east and this is no exaggeration," Stephenson said.
"It provides the opportunity, not available at any other UK location, to create a critical mass of activity, not only producing wind turbines and their foundations but also providing a base for offshore installation."