More than £850 million has been injected into Scottish projects
over the past four months as investors are drawn to the country's
energy transition.
The total is boosted today by the Scottish National Investment
Bank's (SNIB) announcement of £6.7 million for Subsea Micropiles,
which is developing a marine anchor system for large offshore
construction projects. The company has also secured £2.5 million
from Japanese investor Marubeni and is committed to building a
manufacturing facility in Scotland, supporting about 100 jobs.
SNIB's investment is part of the up to £500 million committed by
the Scottish Government over five years to grow offshore wind
supply industries and infrastructure.
Other recent announcements have included:
- £20 million investment by SNIB into subsea cable manufacturer
XLCC's planned new facility in Hunterston, Ayrshire
- £50 million investment by Forth Ports in new infrastructure
at the Port of Leith to support a major offshore wind contract
- £800 million from Copenhagen Investment Partners for new
battery storage projects in South Lanarkshire and Fife
- £5 million from Highlands and Islands Enterprise to support
the development of a new harbour facility for the assembly of
offshore wind turbines at Scapa Flow
Speaking ahead of a Scottish Parliament debate on Increasing
Investment in Scotland, Deputy First Minister said:
“The increasing pace of investment announcements will create jobs
across the country and is further evidence of growing private
sector and investor confidence in Scotland's economic potential.
“Scotland has the talent, skills and resources to become a major
player in the global energy transition and the Scottish
Government is determined to ensure that this happens. This
includes investing up to half a billion pounds to unlock the
additional private investment we need to realise this enormous
opportunity.
“Work is gathering pace. The backing for Subsea Micropiles
demonstrates the strategic approach the Scottish Government is
taking alongside SNIB and our enterprise agencies, focusing on
bringing new investment and green jobs to Scotland while
supporting the delivery of our burgeoning offshore wind
capabilities.
“And next month we will host the Global Offshore Wind Supply
Chain Forum in Edinburgh, bringing together international
investors to discuss opportunities and further highlight what
Scotland has to offer.”
Background
The Deputy First Minister will lead a Scottish Government debate
– Increasing Investment in Scotland – in the Scottish Parliament
today (27 February) at 14:40.
An embargoed news release announcing the Scottish National
Investment Bank's investment in Subsea Micropiles is available.
Email thebank@charlottestreetpartners.com.
