The Scottish Government has unveiled its Green Industrial Strategy, which emphasizes the role of offshore wind in securing investment and advancing the nation's net zero transition. The strategy, part of the Programme for Government, outlines five priority areas, with the wind economy being a central focus.
Accompanying the strategy is an Offshore Wind Focus, providing a detailed assessment of market opportunities and the next steps needed to guide public sector investment in offshore wind. The report aims to foster collaboration with industry and government bodies to drive large-scale investment in Scotland's renewable energy sector.
Acting Cabinet Secretary for Net Zero and Energy, Gillian Martin, highlighted the importance of this approach in the document's foreword: “This document sets out the next steps we need to take to support the creation and promotion of investment opportunities for the sector and foster further collaboration with industry, and the UK Government and its agencies, to unlock investment at a scale and pace which is transformational for Scotland's net zero ambition, citizens, communities, environment, and economy.”
The Scottish Government has committed to investing up to £500 million over five years in offshore wind projects. According to the Offshore Wind Focus report, this public funding is expected to attract significant private capital, with the potential for a multiplier effect of three times the original investment. The funding will support essential infrastructure upgrades, particularly in ports and supply chain facilities.
The strategic assessment outlines opportunities in two key areas: ports and harbours infrastructure, and the broader offshore wind supply chain. The Scottish National Investment Bank is expected to play a pivotal role in delivering this investment through commercial debt and equity funding.
Deputy First Minister Kate Forbes, alongside Gillian Martin, presented the strategy during a visit to Flowcopter, a company developing drones for offshore wind applications. Forbes emphasized the strategy's focus on reducing barriers to investment and sharing risk and reward with the private sector. “This Green Industrial Strategy spells out where we believe the greatest opportunities lie, and where we will focus our attention and resources,” she said.
Scottish Renewables chief executive Claire Mack welcomed the strategy, noting its commitment to supporting the energy supply chain. “We have worked closely with the Scottish Government on this strategy and are pleased that it has promised to drive forward the full potential for public and private investment in essential infrastructure,” Mack said.
The strategy sets the stage for Scotland to remain a global leader in clean energy, with a Global Offshore Wind Investment Forum set to take place next spring to further attract international interest in the sector.
