Scottish offshore wind sector receives investment boost in 2012

Scotland’s offshore wind developers have invested £165m in projects over the past four years, of which a major proportion of £65m was spent in 2012 alone, revealed a report of Scottish Renewables, a trade body.

The report, titled ‘Offshore Wind: Investing in Scotland’, was compiled after Scottish Renewables asked its members developing offshore wind projects in the country’s waters about the investments made into the sector to date.

Fiscal 2012 provided the starting point for large scale offshore wind development in the country.

The total installed capacity envisaged by developers for the country’s offshore wind power sector is pegged at 4GW and once this capacity is fully realised, it is expected to power three million homes.

Scottish Renewables offshore renewables senior policy manager Lindsay Leask noted that the investments demonstrate the confidence developers have in the country’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," Leask said.

Several major international companies such as Mitsubishi, Technip and Samsung, as well as domestic businesses like NGenTec, Wind Towers and BiFab have shown interest in developing the country’s renewable energy sector.

Scottish Enterprise Renewables Director Andy McDonald noted that the figures outline the progress made in successfully launching the initial projects and creating opportunities for local businesses to invest in the sector.

"We and our partners have been working hard to create the optimum conditions for investors and Scottish business alike by developing the business environment and supporting the development of a strong supply chain," McDonald added.