23 March 2015 2015 03:02 AM GMT

Scotland Sets Up US$59 Million Program to Fund Low Carbon Industry

The Scottish government has unveiled a new £76 million (US$59 million) program to boost jobs and economic growth in the low carbon sector.

Cabinet Secretary for Infrastructure, Investment and Cities Keith Brown said the Low Carbon Infrastructure Transition Programme will provide tailored support for established and start-up infrastructure projects across the private, public and community sectors.  It aims to stimulate commercial interest and investment and maximise Scotland’s vast potential in the low carbon sector.

The program will receive £33 million European Regional Development Fund grant funding under the new 2014-20 European Structural Funds programme. The remainder is match funding from partners. It will be jointly managed by the Scottish Government and public sector partners including Scottish Futures Trust and Highlands and Islands Enterprise. Resource Efficient Scotland, a programme of Zero Waste Scotland, will provide technical expertise.

Three levels of support will be offered to low carbon projects. Catalyst support for start-up projects, Development support for more advanced projects and Demonstrator support for a projects already using commercially proven technology.

“The Scottish Government is committed to a value for money approach to growing Scotland’s low carbon economy, and the establishment of the Low Carbon Infrastructure Transition Programme is a significant step in this effort,” said Brown. “The estimated market value of sales in Scotland’s low carbon and environmental goods and services sector in 2011/12 was £10.1 billion, with around 4200 companies employing 78,000 people.

“This is forecast to grow by 30 per cent to reach a value of £13.2 billion by 2016/17 and the Low Carbon Infrastructure Transition Programme will ensure that the low carbon sector delivers significant jobs and economic growth for Scotland.

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