Scotland announces £70m renewable energy investment

03 Nov 2010
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Scotland announces £70m renewable energy investment

The Scottish government has announced that it is to create a £70 million investment fund for renewable energy developments in the country.

It was revealed that the National Renewables Infrastructure Fund will be used to improve the facilities at the country's ports, as well as making it easier for firms to bring their manufacturing operations to Scotland.

At RenewableUK 2010, the industry body's annual conference in Glasgow, Scotland's first minister Alex Salmond explained that the fund has been set up with Scottish Enterprise and Highlands & Islands Enterprise.

He claimed that the cash injection could have benefits to the Scottish economy to the tune of more than £7 billion, with around 28,000 new green jobs created.

"We are a nation with considerable natural and human resources and the political will needed to deliver a green energy revolution that can build sustainable economic recovery and reduce Europe's carbon emissions," commented Mr Salmond.

This comes shortly after the European parliament announced a new €146 million (£126 million) fund for renewable energy projects. 

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