Spending Review Commits to NE Scotland Investment Zone | ONE

The Spending Review confirms the sector and geography for the North East Scotland Investment Zone, which will centre on sites in Aberdeen City and Aberdeenshire local authorities, including the Energy Transition Zone. The sector focus is green industries and the digital and technology sector, particularly floating offshore wind and green hydrogen, and harnessing digital technology to drive innovation in green energy solutions.

Sir Ian Wood KT GBE, Chair of the North East Scotland Investment Zone Steering Group, said:

“The confirmation of the Energy Transition Zone and site in Aberdeenshire as focal points for the North East Scotland Investment Zone, along with the dual focus of green energy and digital tech, is very welcome. The region’s economic partners have been working closely with both the Scottish and UK Governments to develop this very important policy which will position the Zone and wider region as a globally recognised supply chain hub of energy excellence and one of the most attractive locations in the UK for investment in low carbon technologies.”

“We also welcome the Chancellor’s announcement that the Acorn Project at St Fergus will receive critical development funding to allow Scotland’s only Carbon Capture Cluster to proceed toward a final investment decision. The region’s economic partners are longstanding advocates of this transformational project and it is very encouraging to see its importance being recognised. All efforts must be made to fully realise Acorn’s potential and ensure the unlocking of significant job creation and investment for the North East of Scotland.”