Aberdeen City and Shire's unique energy development corridor, Energetica, has announced that 30% of the £750 million investment potential is now underway.

This includes the development of almost 600 acres of new business space, master-planning for Energetica's new villages, port and leisure developments at Peterhead and offshore renewable projects.

Stretching from the city's Bridge of Don to Peterhead in the north, and to the airport in the west, Energetica is a new business, leisure and residential destination built on low carbon, highly sustainable principles.

It aims to attract global energy companies and highly skilled people to the region, helping Aberdeen City and Shire retain and build on its existing energy credentials, expand into more sustainable energy sectors and enhance its quality of life.

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As thousands of global energy experts and businesses descend on Aberdeen for Offshore Europe, the promoters of Energetica are launching the investment proposition which will be targeted at attracting companies with a particular focus on energy technology R&D, carbon capture and storage, offshore wind and marine renewables as well as offshore operations and maintenance and decommissioning.

Energetica project director, Sara Budge, said: "With the extent of these investments, Energetica has moved rapidly from concept to reality in the first five years of its 25 year vision. These investments underline the project's potential to significantly grow the regional and Scottish economies and position Aberdeen City and Shire as the home of the next age of energy.

"The North Sea may be a mature province but fields are still being developed and will produce for many more years to come. However, we are moving into the next age of energy which will widen the current market opportunities to include enhanced oil and gas recovery, decommissioning, the use of depleted reservoirs for CO2 storage and offshore renewables, where subsea oil and gas excellence in Aberdeen City and Shire can be leveraged to fully exploit the potential."

(JG/BMcC)