Significant funding approved for Energy Park Fife
The Scottish Enterprise board has approved more than £13 million funding for the next phase of investment at Energy Park Fife, which aims to turn Scotland into a world-leading centre for advanced manufacturing for the renewable energy sector.
The investment will help Scotland secure a significant share of the UK offshore wind market, estimated to be worth £19 billion, and have the potential of creating more than 800 jobs and up to £198 million in gross value add (GVA) over the next 10 years.
Jim Mather, Minister for Enterprise, Energy and Tourism announced the funding during a visit to the Energy Park today (19 August 2009).
The Energy Park, Fife is a 134-acre site strategically located close to the new offshore windfarm leasing sites in the North Sea. It was highlighted as a key project by the Scottish Government to receive accelerated funding during 2009/10 as part of its economic recovery programme responding to the current downturn.
The additional funding used to upgrade the quayside and undertake coastal protection works, contributing to the extensive work already achieved during the first phase.
Jim Mather, Minister for Enterprise, Energy and Tourism said: “We want all areas of Scotland to be able to fully harness our vast potential for cheap, clean and green electricity. Maximising that potential brings huge economic and community benefit and this massive investment will enable the Fife Energy Park to further develop, creating hundreds of local jobs.
“With its close proximity to the offshore windfarm leasing sites in the North Sea, the park is ideally placed to serve the European offshore wind market and attract innovative cutting edge companies looking to expand in Europe.
“A key part of our economic recovery programme is to bring forward investment for key capital projects such as the Fife Energy Park to support the local and national economy while also preserving and creating jobs. This investment shows that ploughing millions of pounds into infrastructure projects is making a real difference across Scotland and providing exactly the stimulus our economy needs. We recognise the challenges faced by individuals, institutions and employers during these tough economic times and we are determined to do what we can to ease some of the pressures placed upon them and ensure that Scotland gets through the economic downturn in the strongest possible position."
Linda McPherson, regional director, Scottish Enterprise, said: “The Energy Park is a site of national importance for Scotland. With extensive acreage and deep water load-out facilities it is perfectly placed to service the European offshore wind market, providing infrastructure and accommodation for leading edge companies to grow and expand.
“Since our investment of over £10 million in the first phase of this project in 2006, we have seen employment treble with around 300 people now employed at the park. “This is expected to grow as further companies locate on the Park and we look forward to continued partnership working with Fife Council on the future development of the Energy Park”
Councillor Tony Martin, Strategic Chair of Fife Council's Environment Enterprise & Transportation Committee, added: "This is wonderful news for the Energy Park and for Scotland's economy as a whole. It's fantastic to see an ongoing commitment to the Energy Park's development and this funding, along with an additional £2.45 million that Fife Council recently approved, will undoubtedly help create one of the leading facilities of its kind in the UK."
Energy Park Fife is one of Scottish Enterprise's key projects for the development of Scotland's Energy Sector.
Ends