What’s left of Scotwind must be invested in communities
Campaigners are calling for Scottish ministers to use millions of pounds brought in from offshore wind farm leases to start up a Scandinavian-style wealth fund, which can be directly invested in communities.
The call by community organisations and environmental campaigners came ahead of a debate on Scotland’s Energy Opportunity in the Scottish Parliament on Thursday.
The ScotWind auction has been widely criticised for selling off Scotland’s offshore wind resource on the cheap, with much of the money that was raised disappearing into general Scottish Government coffers.
Of the £750 million brought in, it is thought that less than half remains and now the Scottish Government wants to bring forward proposals for it to be used in a wealth fund.
Dr Josh Doble, Director of Policy and Advocacy at Community Land Scotland, said: “We have a once in a generation opportunity to establish a national fund for the future, to learn from the mistakes of North Sea oil and gas exploitation and ensure that the financial benefits of big offshore wind stay within Scotland and support local economic development around the country.”
He said that the Scottish Government has been “light on the details of how a ScotWind Wealth Fund would be established, what it would support and how it would itself be financed”.
Dr Doble added: “The £300 million of leftover funds from the ScotWind leasing pot must not be squandered or spent on plugging holes in the budget.
“There are sound political, economic and ethical arguments for that money being invested in the future of Scotland and on projects which deliver local economic development, including community-owned schemes.
“If the Scottish Government moves quickly to establish the fund and confirm the use of ScotWind lease money, this could provide seed funding and a strong financial basis to begin vital community wealth-building projects around the country.”
Amanda Grimm, advocacy lead for Stop Climate Chaos Scotland, said: “If it’s Scotland’s energy, then ordinary Scots need to feel the benefit. As we transition from fossil fuels to home-grown renewables, we have the opportunity to make Scotland’s energy system fairer as well as cleaner.
“The renewables sector makes an estimated £10 billion per year, but too little is seen or felt in our communities. The Scottish Government’s promised ScotWind Wealth Fund is a chance to change this. The fund should support community wealth-building projects in villages, towns and cities across Scotland.”
Liz Murray, from Community Energy Scotland, said: “Communities must be at the heart of the Scottish Government’s proposed ScotWind Wealth Fund. For too long the profits from renewable energy have flown out of communities, many of whom face the highest fuel bills and the greatest levels of fuel poverty.
“Directing ScotWind funds to local communities across Scotland, where that money can be invested locally to make people's lives better – including community-owned energy that brings in further income – is a vital part of ensuring the transition to renewable energy is truly fair."