This item was published during the term of a previous administration that ended in April 2007
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Financial sector crucial to renewables industry
30/09/2003
The backing of the financial sector is
crucial if Scotland's fledgling renewable energy industry
is to reach its full potential, Deputy Enterprise Minister
Lewis Macdonald said today.
"Scotland has a massive renewables
potential and it is vital that we work with all interested
groups to drive forward the development of the industry and
ensure that Scotland benefits."
Speaking at the Scottish Renewables
Forum conference on Finance and Renewable Energy in
Edinburgh today, the Deputy Minister underlined the
Executive's commitment to meeting a
target of
40 per cent of Scotland's electricity to be
generated from renewable sources by 2020.
"I'm delighted to see so many
financiers and business people here today, as well as
experts from the renewable energy sector. From the
perspective of the investor it is important to gain an
understanding of how the newer technologies work.
"It is encouraging therefore that the
finance industry can enagage with the renewables sector at
events like these in order to better understand the issues
and to form productive partnerships with developers," he
said.
The Executive is working with the
energy industry, academics and other groups to ensure that
Scotland can take advantage of the opportunities offered by
the developing renewables industry.
Ministers announced in March a target
40 per cent of electricity to be generated from renewable
sources by 2020, and later this year will set up a Forum
for Renewable Energy Development in Scotland to help
achieve this.
"Developing the renewables sector will
not only help us protect the environment and contribute to
a sustainable future, it will also mean new jobs in a
growing industry - it is a win win situation that we must
take advantage of," he said.