Investment plans
A move to a low carbon economy places Fife in a leading position
Fife is set to lead the way in the developing low carbon economy in Scotland not least because the Crown Estate’s recent Round 3 announcement, which included a fifth wind farm site in the deep water off the coast of Scotland, presents a huge opportunity for the Fife economy.
In total the five sites will have the capacity to generate 5,880 MW of electricity from over a thousand wind turbines by 2018, are all located within short sailing distance of the Energy Park Fife, in Methil, with clear opportunities for the companies based there and elsewhere in Fife.
Offshore Wind is forecast to provide over 25 per cent of the UK’s electricity by 2020. To reach this ambitious target massive investment is required and this opportunity will attract interest from companies around the globe.
Technology
In the drive towards development of the renewable and low carbon economy it’s often the technology or the generating device that makes the headlines. However, behind every development there’s a vital supply chain which ensures that it is built and maintained. And that supply chain offers a massive opportunity to the Fife economy.
Fife Council is taking a focused approach, homing in on where the opportunities are, where local companies can step up to the mark, and where outside investment can be attracted in.
Graham Hatton, Economic Advisor with Fife Council, said “We are developing our understanding of the supply chain and future opportunities. We have appointed consultants to develop a directory of Fife companies who could feed into the supply chain.”
The online directory will be launched in May at All Energy 2010 in Aberdeen.
Fife is ideally placed to be at the forefront of Scotland’s move to a low carbon economy with its excellent engineering resource and world class facilities and its highly skilled workforce.
Robin Presswood, Development Manager for Fife Council’s Development Services, said: “There are massive opportunities for companies in Fife to move into this new market. Many local businesses will have the skills and know-how required but may not have considered making the move into the renewables supply chain as yet.”
Fife’s colleges are making great progress in helping to provide the skills required in the booming renewable energy sector.
Announcing a million-dollar donation from Scots-born Canadian mining entrepreneur Robert M Buchan, Carnegie College Principal Professor Bill McIntosh explained “The funds will be used to establish ‘The Whitlock Energy Collaboration Centre’ which will become a centre of collaboration and excellence for the engineering and energy sector based on our Rosyth campus.”
Developing
Renewables and low carbon technologies are also at the heart of Adam Smith College and they are developing a new £16million purpose-built Engineering, Construction and Science Centre in Glenrothes. The centre will bring together further and higher education programmes in engineering, science and construction and introduce new courses designed to meet the specific needs of the renewable energy sector.
An excellent location with quayside facilities is a must for success in the renewables sector, and the Energy Park Fife is nationally recognised as one of Scotland’s pioneering locations.
Potential
Scottish Enterprise recently published The National Renewables Infrastructure Plan which includes the Energy Park Fife in a list of 11 sites across Scotland with the potential to be used for manufacturing and assembly for offshore wind farms.
A new ‘Fife Renewables Innovation and Incubator Centre’ is to be developed at the Energy Park. The £2-3 million facility will help small businesses in the renewable energy sector to start up and grow.
Invest in Fife will be showcasing the range of renewable energy investments in Fife as well as demonstrating their new supply chain resource. The group stand also features a wide range of Fife companies with an interest in the renewable energy sector.
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