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£16.5 million awarded to support UK energy transformation

09 August 2021

A total of £16.5 million has been awarded to the Net Zero Technology Centre to accelerate a range of energy transition projects that will help deliver Scotland’s net-zero economy. Seven projects will be developed through the centre’s Net Zero Technology Transition Programme (NZTTP) to transform the North Sea energy system, with a focus on emissions reduction.

Representative image: Shutterstock
Representative image: Shutterstock

The programme is expected to deliver £403 billion for the economy and 21,000 jobs by 2050.

Funding is being provided through the Scottish Government’s Energy Transition Fund and will be match-funded by the industry. Net Zero and Energy Secretary Michael Matheson announced the investment during a visit to Aberdeen South Harbour, where he hosted a roundtable meeting with Energy Transition Fund partners alongside other key North-East energy stakeholders to discuss the sector’s transition to net-zero.

Michael Matheson said: “The Scottish Government is wholly committed to ending our contribution to climate change by 2045, and doing so in a way that ensures a just transition to net-zero, making sure no-one is left behind. We want to secure jobs for the energy workforce and create new jobs in the north east - and across Scotland - by seizing the huge opportunities our energy transition and wider journey to net-zero present.

“The Energy Transition Fund is helping the energy sector to grow and diversify and accelerate the journey to net-zero, and underpin the north-east’s ambitions to become a world leader in this transition.

“This funding will help the NZTC, working with industry and academia, to help grow Scotland’s role as a global leader in net zero technology solutions, delivering security of energy supply, diversifying the sector, and creating the next generation of highly skilled, green jobs.”

The Net Zero Technology Centre’s CEO Colette Cohen OBE said: “This is an important milestone for the Net Zero Technology Centre which will drive the development of key technologies for green growth in Scotland and the UK, create jobs, attract investment and help establish a world-class net zero supply chain.

“The funding will unlock some of the technology and innovation required to deliver an affordable net zero energy industry, and we are delighted to see industry and government supporting this national ambition.”

Chief Executive of OGUK Deirdre Michie said: “The UK’s offshore oil and gas industry is changing and this is further recognition of its essential expertise in meeting the governments’ net zero emissions targets. This is welcome support for the Net Zero Technology Centre and for the many companies in our sector which are pioneering homegrown greener energy while continuing to support the UK’s ongoing oil and gas demand.”  

The £62 million Energy Transition Fund was launched on 12 June 2020. The Fund has already provided funding of £26 million for an Energy Transition Zone, located in Aberdeen, £6.5 million for a Global Underwater Hub, as well as £4.65 million to the Aberdeen Hydrogen Hub. Further details are available on the Scottish Government website.

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