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Scotland’s Salmond Sees More Renewables Investments This Year

Scotland’s First Minister Alex Salmond said he expects to make “significant” announcements this year of renewable energy investments in Scotland where the question of U.K. independence is not hampering investment.

“The massive investment we’re seeing in the Scottish renewable energy industry indicates that far from being put off, investors see in Scotland a government which is deeply committed to renewable energy and indeed other parts of the energy sectors,” Salmond said today in an interview in London.

The leader of the ruling Scottish National Party said he expects to be able to announce investments from companies “following on an international sense” after companies including Samsung Heavy Industries Co., Ltd, Mitsubishi Heavy Industries Ltd. (7011) and Gamesa Corporacion Tecnologica SA (GAM) detailed plans to locate offshore wind plants in Scotland.

Scotland is seeking to get all of its electricity from renewables by the end of the decade. Salmond is pursuing a policy of breaking away from the U.K., planning a referendumon the subject in 2014. Developers of energy projects including SSE Plc have said the plans make it harder to invest in Scotland until the outcome is clear.

“Investors are speaking very clearly and they see enormous potential in the Scottish energy industry, that’s why we’re getting so many investments in the present moment,” Salmond said, noting that Scotland, has about quarter of the wind and tidal resource in Europe and will be able to export power and meet demand for at home.

To contact the reporter on this story: Sally Bakewell in London at sbakewell1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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