First minister announces £35m fund for to attract green technology to Scotland

Speaking at the Scottish Low Carbon Investment Conference, Alex Salmond said that the fund would enable Scotland to remain "among the most attractive locations" for the manufacture of wind turbines.

The £35 million Prototype Offshore Wind Energy Renewables Support (POWERS) development fund is open until March 2013 to companies which manufacture offshore wind turbines in their entirety. The fund will be administered by Scottish Enterprise and Highlands and Islands Enterprise.

The funding is intended to support the building of full-scale next generation offshore wind turbines, which are intended to be used in deeper water than currently used machines.

Applicants will be expected to show committed investment from private sector funders, Scottish Enterprise said. They will also be expected to bring additional jobs to Scotland as a result of being able to establish manufacturing operations in the country.

The Scottish Government said that it hoped the fund would encourage a further £80m of private investment funding.

"The last year has demonstrated the appetite of the Scottish Government and private sector to work together to invest in this exciting new industry. As developers and investors look across this global market for certainty and for leadership from government, they can look to Scotland to provide those things," Salmond said.

In the last year Mitsubishi, Gamesa and Doosan have announced plans to develop next generation offshore wind turbine technology in Scotland, the Government said.

Salmond also announced that wave energy developer Aquamarine Power had secured £7m of new funding and a commitment of further investment from existing shareholders to develop its 'Oyster' technology.

Describing the company as "one of Scotland's great green energy success stories", Salmond said that the investment was "a clear signal that marine technologies can be compelling investment propositions".

Scotland intends to generate the equivalent of 100% of its electricity demand from renewable sources by 2020, the Government said.