Green Investment Portfolio launched

October 7, 2020
Green Investment Portfolio launched

Investors are being invited to get behind more than £1 billion of low carbon, eco-friendly and recycling investment opportunities. Led by the Scottish Government, the Green Investment Portfolio promotes market-ready projects that will help Scotland transition to a net-zero economy by 2045 and are seeking private capital.

In total, ten projects with £1.16 billion of investment potential – from a hydrogen development programme in Aberdeen to a plastic recycling project in Perthshire – are included in the first release of the portfolio.

Launching the portfolio at Lanarkshire’s Mossend International Railfreight Park, one of the projects featured, Economy Secretary Fiona Hyslop said:

“Worth around £300 trillion globally, we know that the market for green finance is burgeoning and Scotland’s natural assets and reputation for innovation make it a highly attractive place for that investment.

“We know investors need credible projects that reduce emissions to match their own green ambitions. By assessing these projects before they go to market, the Green Investment Portfolio gives global investors the confidence they need to back projects in Scotland.

“The range of opportunities within this portfolio will expand over time to include £3 billion of projects ready for green finance investment, covering sectors from environmentally sustainable commercial real estate to low emission transportation and green energy. ”

The two projects in the north east of Scotland are:

 

Photo credit: Aberdeen City Council

Get in touch

The team at AREG is committed to ensuring that businesses in Aberdeen City and Shire capitalise on opportunities in renewable energy and that our members achieve success in this rapidly growing market. Please contact us with your news, views, concerns and successes so that we are well placed to deliver on your behalf.

AREG has played an important role in the growth of Scotland’s renewable energy sector, engaging the supply chain and developing the European Offshore Wind Deployment Centre. However, we are only at the very beginning of the transition that AREG was established to both lead and support so there are still opportunities for companies to get into the constantly evolving renewables supply chain. We look forward to continuing our work together as renewables builds on its place as Scotland’s main source of power, and as we seek to deliver real change in the crucial areas of heat and transport.

Scottish Renewables

Aberdeen & Grampian Chamber of Commerce has worked closely with AREG since its formation. The recent progress in the developments of offshore wind projects by Equinor and Vattenfall are as a result of the work of the group over many years. The north-east is known as the oil and gas capital of Europe. At the Chamber, we believe the region must evolve its position to being recognised as the energy capital. Whilst hydrocarbons will continue to be essential in driving our economy for years to come, the generation of renewable resources will play an increasingly important role in providing cost-effective power, innovative development and economic growth.

Aberdeen & Grampian Chamber of Commerce

The enthusiasm and dedication of the early group that would become AREG was fundamental in us choosing to launch All-Energy in Aberdeen. The first tiny show was held in 2001, and AREG’s Chairman at the time, Jeremy Cresswell, played such an active role that I often describe him in terms such as All-Energy’s ‘midwife’. All-Energy is now the UK’s largest renewable and low carbon energy exhibition and conference in terms of number of attendees, space booked, and number of exhibiting companies. As AREG became firmly established, their presence and support for the event grew spectacularly over the years. We thank them most sincerely for their invaluable input.

All-Energy

Vattenfall has forged a strong working relationship with AREG through the development of the European Offshore Wind Deployment Centre. AREG has worked tirelessly on behalf of the North East and it can take enormous credit for the growth of sustainable energy in the region and the path it has cleared for the region to capture further investment.

Vattenfall

Aberdeen City and Shire is emerging as a key location for renewables by successfully transferring its world-class oil and gas expertise into the sector and AREG has done much to advance this through a broad range of initiatives. It has acted as a catalyst in driving further investment in the local economy by engaging with companies, Government, public bodies and existing projects and we have been pleased to support their efforts. Scottish Enterprise will continue to engage with AREG as we increase Scotland’s use of renewable energy.

Scottish Enterprise