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Chamber and committees

Question ref. S6W-06172
Asked by: Neil Bibby, West Scotland, Scottish Labour
Date lodged: 1 February 2022

Question

To ask the Scottish Government whether the Energy Investment Fund is being closed to new entrants, and, if so, for what reasons.

Current status: Answered by Michael Matheson on 11 March 2022


Answer

The Energy Investment Fund will close at the end of this financial year 2021-22. The Fund was established in 2013, (succeeding the Renewable Energy Investment Fund) with funding from the Fossil Fuel Levy, to address market failure in capital funding in specific renewable energy sectors. The Fund has been very successful over the years, however, the market for capital funding has changed since 2013. There are new investment mechanisms in place, through the Scottish National Investment Bank, which supports the Scottish Government's strategic priorities to achieving our net zero ambitions.