Inch Cape Offshore Wind Farm has published an independent report setting out the investment, value and employment the project will deliver to Scotland and the wider UK.
The 50/50 joint venture between ESB and Red Rock Renewables said the project will invest ?4.7 billion in the UK economy over its lifetime, with ?2.7 billion to be spent in Scotland.
The report by BiGGAR Economics added that ?1.0 billion will be invested in eastern Scotland, including East Lothian and Angus, supporting local and regional economies.
Inch Cape Project Director John Hill said: “The report demonstrates that the project will make a significant contribution towards the UK’s transition to a resilient and secure low-carbon energy system. It will not only deliver clean electricity but is also helping to develop industrial capability, support skilled employment and strengthen the regional and national Scottish and wider UK economies”.
At its construction peak the project will support 2600 full-time equivalent UK jobs, while 50 direct long-term skilled roles will be created for operations at the Port of Montrose.
More than 320 UK companies, including 150 in Scotland, have already supplied the project, including Siemens Energy, Forth Ports, Innovair, OEG and Granada.
Paul Lennon, head of offshore wind, hydrogen and long-term storage at ESB, said: “At ESB, offshore wind will be a cornerstone in the delivery of our net zero carbon emissions by 2040 strategy, and we are committed to delivering benefits for communities and the wider economy where we have key projects. Inch Cape is one of those, and I am delighted to welcome the publication of this report that highlights the positive socio-economic benefits that the project will bring to Scotland and indeed the UK as a whole. We look forward to seeing the real difference this multi-billion-investment will make over its lifetime as Inch Cape makes a significant contribution to UK climate goals.”
Xiaomeng Chen, Red Rock Renewables chief executive, added: “Inch Cape is now delivering real value to the Scottish and UK economy, and fulfilling our vision for it to create a long-term, positive impact on the country’s net zero future. Offshore wind is central to achieving a clean energy system, however investment in projects like Inch Cape is also vital in supporting supply chain growth, skills development and quality jobs.
“Opportunities generated for local suppliers throughout each stage of the project, from development to construction and operations, are testament to the value renewable energy and in particular offshore wind can bring to the country’s green economic future. We remain committed to delivering Inch Cape safely and collaboratively, with a clear focus on maximising opportunities for the local economy.”
The project is under construction with activity at the Port of Leith, ongoing work on its substation at Cockenzie, a new operations facility being built at the Port of Montrose and export cable installation from Port of Blyth.
Inch Cape is on track for first power in late 2026 and full commercial operation in 2027, and will generate more than five terawatt hours of energy each year once complete.