The changes will mean redundancies and the agency has started a four-week consultation with staff. It made the announcement following a review of operations by chief executive Michael Pemberton.
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.
It can best do this by operating, developing and regenerating property assets.
It will use profits to facilitate programmes that improve the area, especially those that support low-carbon goals.
Mr Pemberton said: “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.”
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