Developers Investing Heavily In Scottish Offshore Wind Power Market

NAW Staff, Tuesday 29 January 2013 - 10:58:40

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.




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