03 Nov 2010 11:11:08
Scottish offshore renewable infrastructure fund created
First minister Alex Salmond has announced the creation of a £70 million infrastructure fund to aid the development of the offshore renewables industry in Scotland.
Intended to further the development of port and manufacturing facilities for offshore wind turbines, the National Renewables Infrastructure Fund is expected to create 28,000 jobs.
The fund should also draw in significant levels of private sector investment, contributing £7.1 billion to the Scottish economy over the next decade.
Mr Salmond also called on the UK government to allow Scotland access to the £191 million of Fossil Fuel Levy funds to further the development of renewables in the country.
"[The funds] remain vital for the development of offshore wind and marine power, for heat networks and technology to deliver our renewable heat targets," he said.
Scottish Renewables also said the release of the cash would "accelerate" the development of the offshore wind sector in the country, allowing Scotland to become "one of the most competitive locations in Europe for the offshore wind supply chain".
The first minister also recently increase the country's renewable energy target to 80 percent by 2020.