Scotland launches wind energy fund

SCOTLAND - Scotland is determined not to be left behind in the race for offshore windfarm investment by announcing an 80 million euro $112 million fund to improve its ports and infrastructure.

The decision comes just days after the UK government announced a similar fund of 69 million euros $97 million to develop the country's ports in order to attract offshore turbine manufacturing companies. Siemens Energy, General Electric Company and Spanish renewable energy company Gamesa Corporation SA have confirmed plans to build turbine manufacturing plants in the UK.

In March, Mitsubishi Power Systems Europe Limited, a subsidiary of Mitsubishi Heavy Industries Limited MHI, announced that it is planning to invest about £100 million $161 million in a UK-based wind turbine research and development project by 2014.

Scotland's First Minister, Alex Salmond, launched the National Infrastructure Renewable Fund for port and manufacturing facilities, which will help strengthen the supply chain provision for manufacturing offshore wind turbines and related components. He believes the investment will lead to an estimated 28,000 jobs and 8.15 billion euros $11.4 billion in investments in the Scottish economy over the coming decade.

It is estimated that more than 7,000 offshore wind turbines will be constructed around the UK over the next decade.

"I'm pleased to welcome the renewables industry to Scotland, because we are a nation with considerable natural and human resources and the political will needed to deliver a green energy revolution that can build sustainable economic recovery and reduce Europe's carbon emissions," said Salmond when announcing the funding.

The First Minister also called on the UK government to remove the restrictions on immediate access to Scotland's Fossil Fuel Levy funds, so that the money can be invested in renewable energy projects.

"The Scottish Parliament has condemned the UK government's refusal to give unrestricted access to Scotland's £191 million $307 million Fossil Fuel Levy funds. Together with industry, we must and we will continue to press the Treasury to release these funds now due to Scotland. They remain vital for the development of offshore wind and marine power, for heat networks and technology to deliver our renewable heat targets, and vital to for our communities, so they can invest in and benefit from the green economy."