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28th October 2025

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ebusiness weekly news 14/10/2024

Offshore wind farm parent group plans to double UK investment

Iberdrola, Europe’s largest electricity company which is developing the East Anglia 3 and 2 offshore wind farms off the Suffolk coast, has set out plans to double its UK investment plans to a potential £24 billion over 2024-28. Ahead of the government’s investment summit this week, the Spanish group – the parent company of Scottish Power – said that with the British electricity grid needing the biggest rewiring ever seen, two thirds of the total figure would be directed to transmission and distribution networks. ScottishPower confirmed that it will put in service the East Anglia 3 offshore wind farm, currently under construction, as well as East Anglia 2, a £4bn ‘shovel-ready’ offshore windfarm. East Anglia 2 recently won a contract in the AR6 auction – the government mechanism for supporting the sector – and is set to power the equivalent of one million homes. The company also plans to continue investing in new onshore wind, solar PV and battery projects. Meanwhile, the group’s transmission investments will increase following upgrades under a new framework. Iberdrola executive chairman Ignacio Galán said: “After having invested more than £30bn in the last 15 years, the clear policy direction, stable regulatory frameworks and overall attractiveness of the UK are leading us to double our investments for 2024-28, reaching up to £24bn.”

Finance officers planning to invest in digital tech despite dip in confidence

Business sentiment among chief financial officers edged lower in the third quarter although confidence is still above the long term average and most firms plan to invest in digital tech such as artificial intelligence to drive performance. A net 6 per cent feel more optimistic about the financial prospects of their businesses now than they did three months ago; then the figure stood at a net 23 per cent following a bounce in optimism after the general election. CFOs also report a modest increase in uncertainty, particularly over geopolitical concerns, low UK productivity and a potential ‘hard-landing’ in the US. But CFOs expect wage growth to slow from 4.6 per cent in the last 12 months to 3.2 pc in a year’s time and interest rates to fall from the current 5 pc to 4 pc  by next September. The majority (net 95 per cent) of CFOs expect to raise spending on digital technology and assets such as software, IT and AI, both over the next 12 months and the next five years. Deloitte chief economist Ian Stewart said: “Economists have been waiting for a new technology that has the potential to reboot productivity growth. If CFOs are right, AI is that technology.”

Two Norfolk architectural practices to merge

Two leading Norfolk architectural practices Chaplin Farrant and SMG Architects are to merge in a move which will expand Chaplin Farrant’s offer from its offices in Norwich, Cambridge and York. Founded in 1938, Chaplin Farrant is a multi-disciplinary practice, providing architecture, planning, cost consulting, engineering and CDM. North Norfolk-based SMG Architects is known for creative and sustainable design solutions and has a reputation for high quality projects across a range of sectors. This year, Chaplin Farrant won The Eastern Echo Awards, Architect of the Year and Project of the Year 2023. Chaplin Farrant managing director Mark Nolan said: “The integration of the teams will provide a seamless transition for SMG Architect clients as well as additional resources and skill sets for those currently working with Chaplin Farrant. This marks an exciting new chapter for both firms, and we look forward to continuing to serve our clients with the same dedication and excellence that they have come to expect.”

SMG Architects chairman Ian Mutton said: “….Their experience and reputation is well respected within the industry and the area and the union of the teams can only serve to enhance the delivery of projects to all the clients we work with.”

Photo (l-r) : Mark Nolan and Ian Mutton outside SMG Architects office in Norwich.

Briefly…

Design agency acquires photographic & digital content business through MBO

Norwich-based design agency Bleat Creative has acquired Focal Point Digital, a long-established Norfolk photographic and video production business, through a management buy-out. Founded in 1976, family-run Focal Point Digital offers a wide range of services, including commercial photography, video production, and digital content. Clients included Lotus Cars and Colin Chapman in the early years. Bleat Creative managing director and founder Scott McKay has had a professional relationship with Focal Point for over 20 years and joined the team earlier this year. He said: “Bringing Focal Point into the Bleat Creative family means we can offer even more value to our clients. Whether it’s through photography, video, or digital content, this acquisition enables us to deliver complete brand and marketing solutions.” Both companies will continue to operate independently from their current location in north Norwich and the staff at Focal Point Digital will remain unchanged.

Photo: The Focal Point team

New health club creates 75 jobs in Bury St Edmunds

David Lloyd Clubs is opening a new health, fitness, and wellness club in Bury St Edmunds in early December. It follows the completion of an 18 month project on the development on the town’s Marham Park. General manager Kristen Westwood, said: “The demand we have seen for memberships at the new Bury St Edmunds Club has been fantastic. It has been great to see the new club be met with such excitement and interest with so many making the most of our early joining offer.” The new club has created over 75 jobs across hospitality, fitness and spa roles.

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