Scotland unveils £62m energy transition fund for oil and gas sector
15 June, 2020
The Scottish government has announced a £62m support package for the crisis-hit oil and gas sector that will help the region diversify towards net zero.
The Energy Transition Fund will support businesses affected by the impact of COVID-19 and the oil price crash over the next five years.
Focused on the north east of Scotland, the fund will focus on turning the region into an energy transition hotspot that aims to attract new private investment.
Projects under consideration for the funding include a global underwater hub, a net zero solution centre, a hydrogen-fuel manufacturing zone, the Acorn CCUS project and an energy transition business park.