Renewable investment hits £1.7 bn

SCOTLAND attracted £1.7 billion worth of investment in renewable energy during 2011-12 - the second highest level in the UK, newly released figures have revealed.

The £1.7bn of new investments and 4,411 jobs included a plan by Gamesa to invest up to €150m in developing a new offshore wind hub at Edinburgh’s Port of Leith.

Only Yorkshire finished ahead of Scotland;and with £1.9bn of new projects creating 5,416 jobs, according to the figures form the Department of Energy and Climate Change (DECC).

The figures showed that renewable energy companies unveiled plans to invest £6.9bn across the UK, supporting 20,848 jobs in the renewables industry during 2011-12.

Hugh McNeal, chief executive of the Office for Renewable Energy at the DECC, announced the results following publication of the UK Government’s draft energy bill.

He said: “The draft Bill is designed to encourage a balanced portfolio of renewables, new nuclear and carbon capture and storage, and to ensure that these technologies can compete fairly in the marketplace”.