An ambitious new project to provide safe carbon storage capacity in the North Sea, off Aberdeenshire, is being granted more than £31 million of UK Government funding.
It will support the development of Scotland’s Net Zero Infrastructure project, based in Peterhead, to deliver important onshore and offshore engineering studies connecting industrial sites across Aberdeenshire to Falkirk, with access to carbon storage in rock deep below the North Sea.
The programme of new work and reusing infrastructure will provide a significant boost to the low carbon sector in Aberdeenshire, paving the way for onshore and offshore developments totalling more than £3 billion, helping Scotland transition away from oil and gas.
Business and Energy Secretary Kwasi Kwarteng said: “Scotland is moving towards a future with renewable energy at its heart. This important project will mean the North Sea has a world-class facility capable of making a real reduction in carbon emissions.
“Our £31 million investment will not only help in the creation of a greener economy in Scotland but it will also lead to the creation of potentially tens of thousands of sustainable jobs and new opportunities for people in Aberdeenshire.”
It is one of nine greentech projects benefiting from a £171 million pot of UK Government funding to reduce emissions from industry and part of a wider package of measures, including an ambitious blueprint to deliver the world’s first low carbon industrial sector.
David Duguid, UK Government Minister for Scotland added: “This crucial funding for onshore and offshore developments in Scotland will boost our NetZero Infrastructure and help build a better, brighter and more environmentally sound future.
“A green recovery plan is vital as we navigate our way out of the pandemic. This plan, part of the North Sea Transition Deal, will not only make Scotland greener and cleaner, it will support the energy transition, creating and securing tens of thousands of jobs by 2050.”