The Crown Estate: Investment in Scottish Offshore Renewables Rises

The Crown Estate Investment in Scottish Offshore Renewables Rises

The 2014 Crown Estate Scotland Report, published today, shows a 13.6% increase on net capital investment to £5 million, with a significant proportion of overall investment over the year supporting Scotland’s emerging low-carbon energy industry. 

The total capital investment in Scotland over the last four years now totals £33.1 million. In 2013/14, £5.7 million was invested in the Energy and Infrastructure portfolio including offshore wind, wave and tidal power, and carbon capture and storage (CCS). This investment was designed to support projects at key stages in their development and help unlock future investment from industry by demonstrating the commercial potential of nascent technologies.

Overall revenues in Scotland remained strong at £13.6 million, in line with last year’s figure, representing 4 per cent of the UK total. The total value of The Crown Estate in Scotland is £267 million, 3% of the UK total.

In the last two years, revenue from offshore renewables in Scotland has totalled £1.4m, whilst over £11.6m was invested in the Energy and Infrastructure portfolio, demonstrating our on-going commitment to facilitating growth in the sector.

The Crown Estate Chief Executive Alison Nimmo said: “Our commitment to investing in Scotland has been at the heart of another successful year. Our energy portfolio has been a major focus for us and we have invested significantly, supporting Scotland’s ambitions to capitalise on its world leading offshore resources. Likewise, our expertise and capital continue to help to unlock potential on coastal assets to benefit local partners and businesses.”

The Crown Estate’s Scottish Commissioner, Gareth Baird, said: “Our dedicated team has continued to work with government and industry, deploying our capital, skills and expertise to create long-term value and helping communities realise their ambitions for valued local assets. This collaborative approach is what continues to create value for our business, for our partners and for the communities of which we are a part.” 

Press release, June 26, 2014; Image: The Crown Estate

Share this article

Follow Offshore Wind

Leave a Reply

Events>

<< Nov 2017 >>
MTWTFSS
30 31 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 1 2 3

Benelux Infrastructure Forum 2017

This year’s conference will present the latest opinions within the infrastructure market from key professionals in…

read more >

WindEurope Conference & Exhibition 2017

The event features a broad conference programme, unrivalled networking opportunities and an extensive exhibition…

read more >

SNS2018 – The Southern North Sea Conference & Exhibition

EEEGR’s flagship Southern North Sea conference is the most important event for the energy sector in the East of England…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreWIND.biz, you’ll reach countless professionals in the sector. For more information, click below...

apply

Offshore Wind jobs in Taiwan at New Power Partners

New Power Partners offers global management and support services to the Offshore Wind Industry within development, planning and construction activities ...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreWIND.biz, you’ll reach countless professionals in the sector. For more information, click below...

apply

Vessels>