A further 拢100m drawn from the fossil fuel levy will be used to capitalise the Green Investment Bank.

The government has announced it will make 拢100m available for investment in renewable energy projects in Scotland.

The 拢100m is to be drawn from the fossil fuel levy, which was introduced in 1996 in Scotland and paid by energy companies using non-renewable fuel sources.

The fossil fuel levy currently has a surplus of 拢200m, which the Scottish and Westminster governments have agreed will be split, with half comprising the new Scotland-specific fund and the other half being used to capitalise the UK-wide Green Investment Bank.

Chancellor George Osborne said: 鈥淭he coalition government is committed to creating jobs across Scotland 鈥� particularly in the green energy sector. It鈥檚 great news that we have been able to cut through the arguments and the wrangling with the Scottish government that have stopped this money being invested in the past.鈥�

Topics