Scotland awards £2.2m in funding to reduce costs of offshore wind power

The Scottish government has awarded £2.2m in funding to a Carbon Trust program that aims to reduce the costs of offshore wind power.

The Carbon Trust’s Offshore Wind Accelerator (OWA) program combines nine developers, accounting for more than 72% of licensed capacity in the UK.

The program aims to cut the costs of offshore wind power by about 10% of developments in Scottish waters.

In order to encourage collaboration between the developers for cost-reduction activities on Scottish waters, Scotland will invest £200,000 in the OWA initiative in 2014-2015 and £2m in 2015-2016.

Scottish First Minister Alex Salmond said the government intends to generate the equivalent of 100% of the country’s gross annual electricity consumption from renewable sources by 2020, as part of a balanced, energy mix, and it is already nearly half way there.

"Renewable energy is extremely valuable to Scotland’s economy, to reducing our carbon emissions and in providing low carbon energy supplies as well as jobs and long term investment," Salmond added.

The funding will be utilized to help share knowledge on foundations and installations, operations and maintenance as well as support the commercialisation of floating wind turbines.

"It also helps keep the lights on across these islands at a time when Ofgem is warning of a tightening gap between electricity supply and demand south of the border."

The Carbon Trust chief executive Tom Delay said offshore wind industry has huge potential to generate low carbon power and create economic value.

"Key to that success will be driving costs down through innovation and doing this quickly. The OWA and this new injection of funding will be key to help meet this cost reduction challenge," Delay added.