Invest £300m from ScotWind revenues into community energy, Greens urge John Swinney

THE Scottish Greens are calling for £300 million from the ScotWind revenues to be invested in community-owned energy projects.

They say the money should be put into a new Wealth Fund to help communities own renewable energy projects and ensure more of the profits from Scotland’s energy stay in Scotland.

The ScotWind project involves leasing out sections of Scotland’s seabed, most of which is officially part of the Crown Estate, to companies for up to ten years.

In total the leasing projects brought in more than £756m in direct fees to the Scottish Government, with developers also having to pay rent based on the amount of energy produced by the windfarms eventually built.

Around £320 million has already been committed to help cover short-term budget pressures.

Kristopher Leask, Green MSP for the Highlands & Islands and the party’s spokesperson on Energy, is calling on the Scottish Government to commit £300 million of the remaining revenue to the proposed Wealth Fund.

The SNP and Scottish Greens both pledged to create a ScotWind Wealth Fund in their Holyrood elections manifesto, with the First Minsiter reiterating the proposal last week while announcing his Programme for Government.

(Image: PA)

Leask said: “People across Scotland are seeing their energy bills rise year after year, while our energy supply chain is stuck in limbo.

“The First Minister has recognised these problems, but has offered little in the way of real solutions.

“Last week he proposed a ScotWind Wealth Fund, as the Scottish Greens called for during the election. But a fund without money behind it is just an empty promise.

“Scotland made more than £750 million from leasing our seabed to energy companies. Around £320 million has already been used to plug short-term budget gaps.

“What is left must not disappear into another short-term fix. It should be invested in Scotland’s future."

He added: “I’m calling on John Swinney to put £300 million of the remaining ScotWind money into the proposed Wealth Fund.

“We need to ensure that Scotland’s energy wealth works for Scotland’s people. We can use that money to help communities own renewable energy, keep the profits in Scotland and make energy bills more affordable.”