Offshore renewables spending drops

January 28, 2014

Renewables industry body Scottish Renewables has revealed figures which suggest Scotland's offshore wind sector is under threat from an investment hiatus.

The body has revealed figures it has obtained from major developers showing these firms more than halved their spending in Scotland in 2013.

The findings suggested £28.9m was spent in 2013, compared to £63.6m in 2012. Total investment to date now stands at £193.4m.

Lindsay Leask, senior policy manager for Scottish Renewables, said: “Uncertainty throughout the industry is growing as none of the major projects planned for Scottish waters have had their planning applications determined yet, and the details around accessing market incentives are still unclear.”

"A reduction of some 55% in a year is cause for concern not only for the sector, but should also be a worrying sign for the Scottish and UK governments too. We’ll be working hard over the coming weeks with governments north and south of the border to ensure the developers gain the certainty they need to unlock further investment.”

There has, however, been more positive news for those companies working in offshore wind at a smaller scale and throughout the supply chain, she added.

“We are seeing some really exciting developments around innovation and across the supply chain in Scotland. 2013 has been an interesting year with the next generation of turbines being installed off the Fife and Ayrshire coasts, a £15 million Scottish Innovative Foundation Technologies Fund launched, and Statoil given the green light to develop floating turbines off the coast of Peterhead.”

The Offshore Wind: Investing in Scotland 2013 analysis is published ahead of a major conference in Aberdeen, starting today.



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