Scotland launches £20 million low carbon demo fund
- Business & Finance
Scottish government, with its partners, has launched £20 million funding support programme to accelerate the delivery of large scale low carbon infrastructure projects in Scotland.
Through the Low Carbon Infrastructure Transition Programme (LCITP), financial support of up to £20 million will be provided per project, under the condition that the provided funding does not represent more than 50% of the total capital value of the project.
The invitation targets proven technologies with a focus on low carbon and/or renewable electricity and heat generation solutions for Scotland that will contribute to its ambitions to tackle climate change.
Programmes of smaller scale aggregated projects that can demonstrate a transformational impact on the way that Scotland generates and uses energy are also welcome to apply, Scottish government informed.
For demonstrator projects the requirement is that the project is commercially viable but unable to attract private investment as the technology is not yet used in Scotland on a large scale basis.
According to the Scottish government, the successful projects will be innovative in design incorporating one or more low carbon technologies and have the ability to demonstrate tangible economic, social and low carbon benefits for Scotland, while showcasing commercially viable technologies and encouraging wider uptake and replication in communities across Scotland.
Cabinet Secretary for Economy, Keith Brown, said: “The estimated market value of sales in Scotland’s low carbon and renewable sector in 2013/14 was £5.6 billion, with around 8,000 businesses employing 21,500 people.
“This fund is another example of the benefits of Scotland remaining in the EU and the single market as The Low Carbon Infrastructure Transition Programme (LCITP) is supported by the 2014 – 2020 European Regional Development Fund (ERDF).”
The LCITP is a working partnership between the Scottish Government, Scottish Enterprise, Highlands & Islands Enterprise, Scottish Futures Trust and sector specialists.
The partnership is supported by the new 2014 – 2020 European Regional Development Fund (ERDF) programme and has a total of £76 million to invest in low carbon infrastructure projects of which £33 million is provided through ERDF.