The Scottish government has announced a GBP-20-million (USD 25.8m/EUR 23.4m) fund to support low-carbon infrastructure projects.
Projects of a significant scale, based in Scotland and worth a total of up to GBP 40 million can bid for support that may take the form of a loan or other form of repayable assistance. The fund is also open to smaller-scale aggregated projects that can demonstrate a transformational impact on how energy is generated and consumed in Scotland, the Scottish government said in a statement yesterday.
The scheme, part of the Low Carbon Infrastructure Transition Programme (LCITP), will provide support of up to GBP 20 million per project and up to 50% of the total project cost. It seeks to support projects of innovative design, incorporating one or more low-carbon technologies that will showcase commercially viable technologies and encourage wider uptake. The focus is on low-carbon and/or renewable electricity and heat generation.
The LCITP is supported by the 2014 – 2020 European Regional Development Fund (ERDF) programme and has a total of GBP 76 million to invest.
"The estimated market value of sales in Scotland’s low carbon and renewable sector in 2013/14 was GBP 5.6 billion, with around 8,000 businesses employing 21,500 people," cabinet secretary for economy Keith Brown noted in the statement.
Brown also said the GBP-20-million fund was another example of the benefits of Scotland remaining in the EU.