Scotland has issued the first call under its £3bn Green Investment Portfolio (GIP) programme for projects seeking large-scale private investment.
Wind, solar and energy storage schemes are among the technologies eligible for support, which includes potential access to capital through the Scottish National Investment Bank.
Successful projects aligned to the Scottish government’s climate change targets will also receive marketing and development advice to help them raise their international profile and attract private sector investment at overseas events.
The GIP will work with partners including Scottish Enterprise, the Scottish National Investment Bank, Highlands and Islands Enterprise, Scottish Futures Trust, UK Department for International Trade, Scottish Renewables and the Scottish Property Federation to bring together private and public sector-led projects.
The first tranche of projects are expected to be launched in spring 2020.
“Scotland is determined to lead the transition to a net-zero carbon economy, and we have been clear that we must leave no-one behind,” said Scotland First Minister Nicola Sturgeon (pictured).
“With 85% of the finance for this transition coming from the private sector, we must do everything we can to help all parts of the economy contribute to net-zero emissions by 2045,” she added.
Trade association Scottish Renewables welcomed the project call, describing it as more “evidence that Scotland’s renewable energy sector is open for business.”
“The uneven playing field created by the UK government for onshore wind and solar PV, alongside the scale of offshore wind projects, means that significant sums are required to help us continue to support thousands of jobs and displace millions of tonnes of emissions each year,” said chief executive Claire Mack.