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12/12/2024

Record Funding Boost For Scottish Offshore Wind

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The Scottish Government has announced a record £150 million investment to boost the offshore wind sector.

The funding, part of a wider £500 million package over five years, aims to attract an additional £1.5 billion in private investment. This is expected to create thousands of well-paid green jobs across Scotland, particularly in key areas like ports, manufacturing, and assembly.

The 2025-26 Scottish Budget also includes plans to establish an offshore wind hub in the North-East to facilitate industry engagement with policymakers.

This latest investment aligns with the Green Industrial Strategy, which identifies the wind economy as a key driver of growth and investment in Scotland.

Acting Net Zero and Energy Secretary Gillian Martin said: "Accelerating Scotland's offshore wind capabilities presents enormous economic opportunities for our country.
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"Our vast resources provide us with significant opportunity to create thousands of well-paid, green jobs across Scotland while accelerating our journey to net zero. We must maximise the economic benefits from offshore wind deployment if we are to ensure a just transition that takes our existing skilled workforce and supply chain with us.

"This significant investment will help boost innovation and expertise in the sector, create a highly productive and competitive economy and deliver a sustainable supply chain that will benefit all of Scotland for decades to come.

"We will work with industry and public sector partners to ensure we identify and deliver the best projects at pace."

Claire Mack, Chief Executive of Scottish Renewables, said: "The renewable energy industry is pleased that the Scottish Government will increase the next tranche of its funding commitment to the offshore wind supply chain. It is also encouraging to see the revenues from ScotWind directly utilised for clean industrial growth.

"We will work closely with the Scottish Government to help shape how this funding can be used as part of the wider investment landscape in order to secure the flow of significant private capital into the infrastructure that will help Scotland optimise the opportunity brought by offshore wind."

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