The Scottish Government has launched a £60 million ($83.5 million) fund, within the country’s Low Carbon Infrastructure Transition Programme to promote Scotland's low carbon innovation.
The LCITP is co-funded by the European Regional Development Fund, its aim being to fund large scale projects which support the ambitions of Scotland’s Energy Strategy. The LCITP was published in December 2017 and will enable projects which deliver low carbon heating solutions, integrated energy systems, and ultra-low emission vehicle charging infrastructure to apply for up to £100,000 ($140,000) to develop investment-ready business cases or financial support. The amount of support will be up to 50 percent of the total capital value of a project up to a maximum of £10 million ($14 million) per project and is available now for capital–ready projects.
The Scottish Climate Change Secretary, Roseanna Cunningham, will officially launch the fund at an event at Scotland House in London, which will be attended by business leaders, climate experts and environmental campaigners.
“We have, first and foremost, a moral obligation to fight climate change” said Cunningham. “But for a nation with Scotland’s resources and skills, the transition to a more prosperous, low carbon and circular economy also presents a valuable economic opportunity. We are determined to attract, retain and develop the low carbon innovators who will shape our future. That is why, I am delighted to confirm that we are now accepting applications from innovative local energy projects to the Low Carbon Infrastructure Transition Programme.”
Scottish Transport Minister Humza Yousaf added that the Scottish Government is committed to the introduction of a cleaner, greener transport network and ultra-low emission vehicle infrastructure is central to that.
The LCITP programme has already offered over £40 million ($55.7 million) of funding to 16 low carbon demonstrator projects supporting low carbon energy generation and supported the co-development of over 30 proof of concept and development proposals. Projects must be based in Scotland and be able to be fully operational by September 2021.