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  £60 million grant set to boost jobs and skills in the green energy sector

£60 million grant set to boost jobs and skills in the green energy sector

28 February 2015 Email this article

Work on as many as 30 renewable energy projects across the UK is to be kick-started by a £60 million grant, Business Secretary Vince Cable has announced.

Aimed at smaller-scale initiatives, it is hoped the funding will lead to enough green energy to power around 17,500 homes being produced, while also creating new, highly-skilled jobs.

Beneficiaries will receive anywhere between £1 million and £10 million, with hydro-power schemes and wind farms on brownfield sites already earmarked for the money.

Albion Community Power, which has experience of building and operating community-scale energy initiatives, will be in charge of handing out the funding.

A hydro-power project near Loch Lomond will be the first to benefit from the cash, £50 million of which is from the UK Green Investment Bank, with £10 million from the Strathclyde Pension Fund.  

Mr Cable said this initiative, on the River Allt Coire Chaorach near Crianlarich, Stirling, will produce power for nearly 2,000 homes and provide high-skilled jobs in the community.

He said: "Renewable energy is the future and we must continue to use all of the new and established technologies at our disposal to power our homes and businesses in a way that doesn't damage the environment.”

The Business Secretary added that the new funding scheme showed "the Green Investment Bank is at the heart of our industrial strategy, creating sustainable jobs and growth".