in News Departments > FYI
print the content item

Offshore wind energy developers have invested nearly 165 million pounds in the Scottish economy, with 65 million pounds invested in 2012 alone, according to data released by industry trade group Scottish Renewables.

The investment figure represents all contracts awarded by developers with Scottish companies in advance of any consents being awarded to their projects. In 2012, Scotland had more than 4 GW of potential offshore wind capacity under development.

"Most of this current investment has been made in research, such as environmental surveys, technical engineering surveys and project demonstration," explains Lindsay Leask, senior policy manager for offshore renewables at Scottish Renewables. “However, this flow of private finance is also generating huge opportunities for the supply chain, and once consents for projects are granted, this will both motivate new entrants and strengthen those existing companies who are already reaping the benefit of diversifying into this emerging sector.”

“These latest figures underline the progress made to date in getting initial projects off the ground and creating opportunities for Scottish businesses entering the offshore wind supply chain,” adds Andy McDonald, renewables director at Scottish Enterprise. “We and our partners have been working hard to create the optimum conditions for investors and Scottish business alike by developing the business environment and supporting the development of a strong supply chain.”

Scotland currently has 5.4 GW of installed renewable energy capacity.



Trachte Inc._id1770
Latest Top Stories

Despite 2013 Challenges, U.S. Wind Power Reaches All-Time Low Price

In a new report, the U.S. Department of Energy details the highs and lows of the country's wind industry last year, and the agency maintains that the U.S. sector remains strong.


Mexico On Pace To Set New Renewables Investment Record

A new report says the country has spent $1.3 billion on clean energy in the first half of 2014 and could end up seeing a record year. Furthermore, wind power is slated for significant growth in the region.


IRS Issues More PTC Guidance, Easing Some Wind Industry Concerns

The Internal Revenue Service (IRS) addresses how much work is needed on a wind farm to satisfy production tax credit (PTC) eligibility.


Embryonic No More: U.S. Offshore Wind Industry Gaining Momentum

After a decade of fits and starts, the industry is moving closer to installing the first generation of wind projects off the country's shores.


AWEA: U.S. Installs 853 MW Of Wind In First Half Of 2014

The American Wind Energy Association (AWEA) reveals the U.S. industry's progress thus far this year and underscores the importance of policy certainty.

Canwea_id1984
Renewable NRG_id1934
Tower Conference_id1965