Projects worth around £500m move closer to completion
Strategic investment to help unlock Scotland’s green energy revolution has moved a step closer, First Minister Humza Yousaf announced yesterday.
In a significant milestone for Scotland’s offshore wind sector, three projects have been invited to move to Stage 2 of the Strategic Investment Model (SIM) process.
Collectively the projects – which represent a mix of local and inward investment into ports, port infrastructure and manufacturing – have a capital expenditure of around £500 million.
The SIM will help to deliver transformational offshore wind supply chain growth in Scotland through innovative collaboration between offshore wind developers, the Scottish Government, enterprise agencies and Crown Estate Scotland.
Making the announcement at the Scottish Renewables and Offshore Wind Conference in Glasgow, First Minister Humza Yousaf said: “There are moments when certain industries can stand confident that when they look ahead, they will see a future in which they play a pivotal role in securing the wealth and wellbeing of a nation – Scotland’s offshore industry is at that moment.
“Together, we can create the right conditions to attract investment, build the supply chain, recruit and deliver the infrastructure needed to ensure that these projects will thrive.
“A select group of three initial projects have been invited to move to Stage 2 of the SIM process, in a significant milestone in our offshore programme. They represent a mix of local and inward investment opportunities into ports, port infrastructure, and manufacturing – collectively, they have a capital expenditure of just under £500 million.”
Due to commercial sensitivity specific projects cannot be named while undertaking the SIM process but details will be made available in due course.
An economy of opportunity – gov.scot (www.gov.scot)
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