Scottish economic development body Opportunity North East (ONE) is to increase investment to support the region’s push to become a “global energy capital”, which includes a focus on offshore wind.
The private sector-led organisation has committed £14.2m and has secured match funding of £42m for the work, which includes spending in other areas such as food, life sciences and tourism.
Chairman Ian Wood (pictured) told ONE’s annual meeting on 12 June that transformational projects are required to secure the region’s economic future as North Sea oil depletes.
“We’re a region in transition, whether that be the evolution from an oil and gas capital to a global energy capital with a focus on lowering carbon emissions; investing in lower and zero carbon energy sources,” he said.
“Exciting projects include the new Aberdeen South Harbour, the potential for a major Energy Transition Park, alternative energies like hydrogen, carbon capture and storage, and capitalising on our world leading position in underwater engineering and technology.”
He added: “As leaders we must be prepared to invest and take risks to achieve fast entry into the new markets and technologies. We must be highly enterprising, prepared to collaborate and support joint initiatives to more clearly establish and then capitalise on our regional strengths.
“The challenge of transformational change is everyone’s responsibility.”