A renewable industry boss says Scotland’s economy is at an “inflection point”, with green energy, investments and technology poised to flood the market.
Ed Northam, head of Europe for the Green Investment Group (GIG), acknowledged Scotland’s importance in “pioneering” the deployment of renewable energy, but said that the largest opportunities lie in the “next phase” of the energy transition.
That includes a chance for the country to showcase how decarbonisation can be achieved on an “economy wide” scale.
Scotland’s “green turning point” is being spearheaded by the landmark ScotWind offshore wind leasing round.
GIG, through its partnership with TotalEnergies and the Renewable Infrastructure Development Group (RIDG), is one of a number of companies vying to snap up plots of seabed.
There’s now just a fortnight to go until ScotWind closes to new bids, meaning a detailed picture of what Scotland’s green future will look like is not far off.
“ScotWind is going to be really significant in marking that inflection point. It’s going to introduce a whole range of new participants into this market,” Northam said.
“The oil and gas majors that we expect will play a big role in the process. That’s fantastic because they bring deep expertise in delivering offshore infrastructure.
“They have established relationships with the supply chain in Scotland – that will help to drive the just transition.
“For years now, those businesses have been developing and honing talent. I expect that not only to continue, but to expand with the energy transition.”
GIG, which is owned by Macquarie Group, has been “part of Scotland’s energy transition” since 2012 and has supported around 20 projects up and down the country.
To date it has mobilised investment of about £635 million north of the border.
© Supplied by MacquarieOn how teaming up with TotalEnergies and RIDG will help to develop GIG’s foothold in Scotland, Northam, who had a hand in helping the UK Government to set up the Green Investment Bank, which was sold to Macquarie in 2017, said: “It’s a really complimentary partnership.
“We combine pioneering experience in the offshore market, including a big presence in offshore wind, with TotalEnergies extensive experience in delivering infrastructure.”
He also said a “key focus” of their ScotWind bid is to “repurpose and reshape” existing businesses with a “traditional oil and gas focus” to support the delivery of offshore wind.
Recent reports have predicted that the majority of the offshore workforce will be involved in renewables in the coming years.
Fears remain though that the bridges needed to ensure a smooth and just transition from one industry to the other are yet to truly materialise.
But Northam said he’s confident those concerns will be diminished in due course.
“That might just be a reflection of the stage of the process we’re at currently. I’m sure when you walk down the streets of Aberdeen in the coming years they’ll be different feedback,” he said.
“It’s an area that’s rich with experience and expertise. That’s going to be really valuable. We’re really excited by what’s on offer in that market from a skills and capabilities perspective – we’ll be able to tell a great story for the Scottish economy.”
