Question reference: S6W-06172
- Asked by: Neil Bibby, MSP for West Scotland, Scottish Labour
- Date lodged: 1 February 2022
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Current status: Answered by Michael Matheson on 11 March 2022
Question
To ask the Scottish Government whether the Energy Investment Fund is being closed to new entrants, and, if so, for what reasons.
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.