SNP Government hopes for renewables bonanza sinking off Scottish island
SNP Government hopes for a green jobs boom in Scotland are fading fast amid growing fears about the future of projects worth billions of pounds
John Swinneys’ repeated claims that Scotland’s renewables industry is booming look increasingly absurd amid fresh signs that giants have lost interest in the kind of major windfarm developments that were meant to fuel prosperity.
Weeks after the first minister insisted that continued growth for Scotland’s renewables sector would power a green economic future, plans for two flagship developments have been left in tatters in quick succession.
Mr Swinney spoke days after Shell pulled out of a scheme to develop a giant floating windfarm off north east Scotland that was expected to provide a £3 billion boost for the Scottish supply chain.
Shell has decided it makes much more economic sense to invest in oil and gas fields, such as the planned Jackdaw development east of Aberdeen.
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After merging its North Sea business with Equinor’s operations in the area, Shell also has a stake in the Rosebank field, which the SNP Government has opposed in a bid to boost its green credentials.
Work on Rosebank could support thousands of jobs in Scotland.
Last week the outlook for renewables darkened when a consortium that plans to develop a giant windfarm west of Orkney said the project had been paused amid concerns about the likely returns on investment.
The consortium includes French oil and gas giant TotalEnergies and Corio Generation, which is owned by Australian investment bank Macquarie.
The decision left the future of a project in which the SNP Government has invested huge hope in grave doubt.
The West of Orkney consortium was one of the groups awarded offshore leases in the ScotWind auction in 2022, which generated great excitement.
Former first minister Nicola Sturgeon claimed the auction could unlock £29bn investment in Scotland.
The West of Orkney consortium helped fuel the hype by holding........
