To ask the Scottish Government how it plans to meet its commitment to spend £500 million on the offshore wind supply chain in the current parliamentary session, in light of Scottish budgets over the course of the session indicating that less than £375 million will be spent.
Following our commitment in 2024 to invest up to £500m over five years in offshore wind infrastructure and supply chain, the Scottish Budget has allocated up to £93m for investment in 2026-27. We are working closely with industry and public sector delivery partners to identify and deliver projects at pace, with a continued focus on leveraging significant wider investment. Over the past two years, we have made £200 million of capital funding available and allocated £100 million, leveraging up to £370 million of private investment, with the potential to support over 2,000 jobs.
And overall to date, our investment of almost £150 million is crowding in a further £70m from UK public finance institutions and leveraging up to £670 million in private investment into projects with the potential to support up to 5,000 jobs.
The impact of global offshore wind market conditions, and delays to progress on key UK-level policy and system enablers – including Contracts for Difference, transmission charging, electricity grid connections, and the Strategic Spatial Energy Plan – have affected short-term investor confidence. It is now more important than ever that the UK Government takes decisive action to ensure the Scottish project pipeline can be deployed quickly in order to deliver the thousands of offshore wind sector jobs that can support a just transition.