Plans involve developing infrastructure for the handling, storage and transportation of imports of wood pellets which are an important source of bio-energy for power stations.
The port’s main Riverside Quay at Tyne Dock will also be extended.
Andrew Moffat, the Port of Tyne’s Chief Executive Officer, said: “It is in renewable energy where we see the next major area of growth for us.
“That is why we are working with major companies in the power generation industry to identify their future requirements and making sure we will be ready to meet their needs.
“These are very significant plans for the Port of Tyne which are imperative for both the sustainability of the Port and the future delivery of the Government’s carbon reduction targets.
“The new proposals are for sophisticated, high spec storage and transfer solutions in terms of design, efficiency and reducing environmental impact, and are intended to maintain our position as a world leader in handling this important new fuel.”
The Port will initially submit applications to extend its multi-functional berths at Riverside Quay by 100 metres and provide the additional facilities for wood pellet including multi-purpose sealed storage, enclosed conveyor systems and a new length of railway line.