CLEAN ENERGY – Scotland Considers
GB Energy’s announcement last July was generally met with enthusiasm – or at the very least, interest. The notion of having a company dedicated to making the UK a clean energy superpower (their words) brought a renewed drive from businesses to consider how they could ride this journey of change. For Scotland, it was seen as a major opportunity for the private sector to invest in wind, solar and nuclear energy projects.
Fast forward six months and the move continues to underscore the country’s reputation as a renewable energy hub and promises to significantly boost various industries, including construction and real estate.
We carried out research into the attitudes of Scottish business leaders around GB Energy. The responses revealed an overwhelming positivity, with 81% confident that the creation of GB Energy will deliver a positive economic impact. This is a clear indication of business positivity around Scotland’s potential to grow its renewable energy sector and the potential of the renewable energy sector to drive future economic prosperity.
So, what does the creation of GB Energy mean specifically for the construction and real estate sectors? Our research showed two-thirds (66%) of business leaders believe that its presence will drive investment in these industries. But what is the rationale behind such optimism?
The construction industry expects to see an increase in opportunities related to renewable energy projects. The expansion of onshore and offshore wind farms will require significant construction efforts, providing a steady stream of projects for local firms.
There will be increased demand for sustainable infrastructure, aligning well with Scotland’s goal of achieving net-zero by 2045.
GB Energy’s presence is also expected to bolster the construction and real estate workforce. It’s anticipated that this growth will be supported by relevant skills development initiatives, ensuring that the workforce is fully equipped to meet the demands of an evolving industry. This will lead to higher demand for real estate in key areas, including housing developments, industrial, and commercial properties.
Funding has been provided to speed up the delivery of a “skills passport” to support oil and gas workers transitioning to the offshore wind sector. The pilot for this digital tool for offshore energy workers was launched last month as part of the effort to ensure Scotland remains at the cutting edge of technologies.
A contract to develop partnerships with Scottish public bodies in the clean energy sector, including Crown Estate Scotland, the Enterprise Agencies, and the Scottish National Investment Bank has been signed by both the Scottish and UK Governments. These collaborations aim to deliver projects quickly and effectively, avoid duplication and maximise the impact and value for money from Scottish projects.
There’s no denying that the clean energy transition presents a huge opportunity for Scotland, and with the existing framework in GB Energy, should be well-positioned to help accelerate the development of key supply chains and infrastructure. The beneficial ripple effects should be felt across the country.
The construction and real estate sectors stand to gain immensely, with increased opportunities, workforce growth, and enhanced property values. As Scotland continues to position itself as a leader in renewable energy, the future looks bright indeed.
Source: The Herald
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