ABB_id2059
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_id2056
Latest Top Stories

The Song Remains The Same: AWEA Says Stable Policy Can Protect U.S. Wind Investment

Although the U.S. wind industry added more than four times the amount of wind in 2014 compared with 2013, predictable policy is needed to sustain its long-term success.


High Net-Worth Investors Claim 'All Of The Above' On Energy, Renewable And Otherwise

According to a recent Morgan Stanley poll, high-dollar investors favor investment in renewable energy technologies, such as wind and solar.


U.S. Wind Power Installations Surpassed 4.7 GW Last Year, Although China Still Leads

Bloomberg New Energy Finance reports that U.S. wind installations came back in a big way from a disappointing 2013.


IRS Specifies Performance, Quality Standards For Small Wind Turbines

The Internal Revenue Service (IRS) recently issued guidelines creating safety and performance standards for small wind turbines to be eligible for the 30% investment tax credit.


Hot Times North Of The Border: Canada Tops Previous Record For Installed Wind Capacity

For the second consecutive year, Canada's wind market has bested the country's previous mark for new installations.

Hybrid Energy Innovations 2015