Green Investment Portfolio is intended to promote market-ready renewable energy projects to help Scotland transition to a net-zero economy
Scotland aims to transition to a net-zero economy by 2045. (Credit: seagul from Pixabay)
The Scottish Government has launched a more than £1bn Green Investment Portfolio as part of its efforts to transition to a net-zero economy by 2045.
The new Green Investment Portfolio is intended to promote market-ready renewable energy projects that will help Scotland transition to a net-zero economy.
Green Investment Portfolio includes renewable hydrogen projects
Under the first release of the portfolio, a total of ten projects, worth £1.16bn in total, from a hydrogen development programme in Aberdeen to a plastic recycling project in Perthshire are included.
Scottish 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 government is inviting investors to support the development of low carbon, eco-friendly projects.
As part of the Green Investment Portfolio, the government has launched Lanarkshire’s Mossend International Railfreight Park. It involves the development of 775m electric rail terminal.
Peter D Stirling, the operator of Mossend International Railfreight Park, director David Stirling said: “We are fully supportive of the Scottish Government’s target to achieve net zero emissions by 2045 and indeed are contributing to this by providing Scotland’s largest zero-carbon, multi-modal rail freight park.”
In June, Scotland announces £5.5m funding for renewable energy projects.