A total of ten projects have been unveiled for Scotland, as part of the country’s new green investment plan. The programs range from a variety of low carbon solutions to environmentally friendly and recycling programs.
Some of the bigger projects include a Â£ 250million hydrogen infrastructure program in one of Scotland’s largest settlements, Aberdeen. In addition, the country has planned a Â£ 200million green business park, which will be the first of its kind in the country.
A low carbon renewable energy park is also included in the portfolio in addition to a Â£ 3million plastics recycling facility, which is to be located in Perthshire.
New infrastructure for charging electric vehicles is also included in the plans, with a company called Forev focused on developing and maintaining a number of public charging stations. This will further encourage motorists and visitors to the country to switch to greener transportation alternatives.
The plan is expected to bring Scotland closer to its goal of becoming a net-zero nation by 2045. In addition to the Â£ 1.16bn program, a total of Â£ 3bn of projects are in the works for the nation, awaiting green funding. investment.
The plans are expected to benefit the Scottish construction industry.
Fiona Hyslop, Secretary of the Economy, explained: âWorth around Â£ 300 trillion worldwide, we know that the green finance market is booming and that natural assets and Scotland’s reputation for innovation makes it a very attractive location for this investment. “
âWe know that investors need credible projects that reduce emissions to match their own green ambitions. By evaluating these projects before they go to market, the Green Investment Portfolio gives global investors the confidence they need to support projects in Scotland.
She then added: âThe range of opportunities within this portfolio will expand over time to include Â£ 3bn of ready-to-invest projects in green finance, spanning sectors ranging from commercial real estate environmentally friendly to low emission transport and green energy.
âBy working in partnership with business, we are committed to ensuring that economic growth promotes happiness and improves opportunities, life chances and the well-being of every citizen of our country. “
Additional investments are also planned, including a Â£ 100million fund for green jobs and an additional Â£ 60million for decarbonization of the country’s industrial and manufacturing sectors.
David Stirling, director of Mossend International Railfreight Park operator Peter D Stirling Ltd, said: – Modal rail freight fleet. The Green Investment Portfolio is a valuable tool to help us reach global investors. “
âWith future plans, including Scotland’s first 775 meter electric rail terminal, we hope to benefit many local businesses as well as those based in Europe and beyond. “