Kate Forbes: Scotland to be Europe-leading green investment powerhouse

Scotland is ready to become a Europe-leading green investment powerhouse, Deputy First Minister Kate Forbes will tell a conference today.

In a speech to key industry figures in London, the DFM will say that the country is positioning itself to become a European leader in the field.

In a two-day visit, Forbes is to meet with international investors across offshore wind and hydrogen sectors, highlighting the 'ramping up' of actions to capitalise on the global energy transition by the Scottish Government.

The Scottish Government has made maximising these areas of renewables a priority in its green industrial strategy.

Under its hydrogen action plan, it is aiming for the production of 25GW of the greener fuel by 2045.

The SNP administration has said it will announce a new tranche of investments into the offshore wind supply chain shortly, with up to £500m to be delivered through the Scottish National Investment Bank and economic agencies over five years. If successful, it is expected to leverage as much as £1.5bn in additional private investment.

Addressing the Hydrogen for Life conference, Forbes is expected to say: "Scotland’s potential to become a global powerhouse of clean and renewable energy is without question. To fulfil that potential, we must make it as easy possible for people to invest here.

"My message to new and potential investors is clear: Scotland is open for business. We have the talent, the skills and the natural resources to be a leading player in the energy transition.

"The Scottish Government is determined to create an investor-friendly environment to capitalise on the opportunities created by the global transition to net zero."