Scotland outstrips the world for wind FDI investment in 2022. However, community-owned wind farms generate much more benefit than commercially operated schemes.
"Offshore wind farms are a key component to renewable-based, low-carbon future for Scotland. Attracting Foreign Direct Investment will help ensure that Scotland continues to lead the world in harnessing wind through onshore and offshore projects, including floating wind platforms.
Wind energy capacity has grown by an average of 17% per year over the past decade, making it the fastest-growing source of electricity in the world. With the energy shock of 2022, it is clear that many countries are now ready to reduce reliance on fossil fuels and nuclear energy. Scotland is one of many leading the way for everyone to benefit from goals to achieve net zero targets.
Scotland’s 2023 draft Energy Strategy includes three overarching objectives; to scale up renewable energy production, to secure continued and increased investment in the net zero energy economy, and to deliver a fairer, more secure energy system, which is not reliant on international commodities markets. Mike Matheson, Cabinet Secretary for Net Zero, Energy and Transport, highlighted to the Scottish Parliament in January 2023, that Scotland’s rich renewable resources could generate a surplus and open up new economic opportunities for export. With capabilities to store excess energy for export, Scotland could weather future energy crises, no matter which way the wind blows."