New figures, published by industry body, Scottish Renewables, have revealed that Scotland’s offshore wind developers have invested around £165 million in the Scottish economy so far.
Scottish Renewables asked its members developing offshore wind projects in Scottish waters how much they had invested in the sector to date. The results showed that £164.5 million of investment has been made with a significant proportion, £65m, being invested in 2012 alone.
The investment figure represents all contracts awarded by developers with Scottish companies in advance of any consents being awarded to their projects. 2012 really fired the starting gun for large scale offshore wind development in Scotland with projects representing more than 4GW (Gigawatts) of potential installed capacity, enough to power 3 million homes, entering the planning system.
Lindsay Leask, Senior Policy Manager for Offshore Renewables at Scottish Renewables, says: “This level of investment, made in advance of their projects gaining consents, shows the considerable level of confidence developers have in Scotland’s offshore wind sector. Most of this current investment has been made in research, such as environmental surveys, technical engineering surveys and project demonstration. 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.”