Energy firms pumped more than £65 million into Scotland’s offshore wind sector last year.
The boon to the economy, revealed by industry body Scottish Renewables, showed £164.5m has been invested in total as the industry seeks to establish itself and take advantage of the power of nature.
Billions of pounds of further investment are also expected to follow, with major international companies including Mitsubishi, Technip and Samsung looking to base offshore operations in Scotland.
Scottish Renewables, which calculated the figures by speaking directly to its membership, said the investment figure represents all contracts awarded by developers with Scottish companies in advance of any consents being awarded to their projects.
A significant proportion of the investment has been made in research, surveys and project demonstration, the group said.
However, the flow of private finance generates huge opportunities for the supply chain.
The year saw projects representing more than 4GW of potential installed capacity enough to power three million homes, enter the planning system including a string of schemes within striking distance of ports in Dundee and Fife.
“This level of investment, made in advance of their projects gaining consents, shows the considerable level of confidence developers have in Scotland’s offshore wind sector,” said Lindsay Leask, senior policy manager for offshore renewables at Scottish Renewables.
“The 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.”
The industry body said last year “fired the starting gun” on large-scale offshore wind developments to be plotted on a map of the seas around Scotland.
“From major international companies such as Mitsubishi, Technip and Samsung looking to base themselves in Scotland to home-grown businesses including NGenTec, Wind Towers and BiFab readying themselves for this next chapter of renewable energy, the map gives a clear indication of how all corners of Scotland could benefit from the growth of offshore wind,” Ms Leask added.
Andy McDonald, renewables director at Scottish Enterprise, said the figures underlined the progress made in getting initial projects off the ground and creating opportunities for Scottish businesses to entering the offshore wind supply chain.
“The business infrastructure and strength of the supply chain are critically important in helping building confidence for the longer term, to ensure investment and employment levels grow further as this new industry becomes firmly established as a key sector driving economic growth and environmental gains for Scotland,” he said.
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