BRITAIN'S Energy Coast is to stop running business support projects and will instead concentrate on developing its property portfolio.

The changes will mean redundancies and the agency has started a four-week period of consultation with an unspecified number of staff.

It announced what it describes as a “new, clear focus” following a review of operations by chief executive Michael Pemberton, who took the reins from Steve Szostak in November.

Britain's Energy Coast (BEC) argues that the loss of external funding means it has to stand on its own feet as a commercial business, and it can best do this by owning, operating, developing and regenerating high-quality property assets.

It will use profits to facilitate programmes that improve the area, especially those that support low-carbon goals.

Mr Pemberton said: “BEC has a proud 30-year history of regeneration along the Cumbrian coastline. In this next chapter we will be building this legacy into a robust commercial operation.

“We will be working to further improve the quality of our property assets, including Westlakes Science and Technology Park, and continue our intervention into important property regeneration projects such as the old bus station site at Whitehaven.”

He added: “We have faced up to the challenges of becoming a wholly commercial company head on.

"At times difficult decisions have had to be made.

“This is one of the biggest changes BEC has faced in its history – but it is a change that will safeguard its future and the positive projects it supports.”