The Bank and Offshore Wind
The Bank has been created to positively impact Scotland’s people and communities through investing in businesses and projects.
Our offshore wind potential and the investment needed to harness it represent a transformational opportunity to re-industrialise and regenerate parts of Scotland – helping to deliver a just transition to net zero, for our society and economy.
We have not seen an economic opportunity on a comparable scale since the emergence of oil and gas exploration in the North Sea in the 1970s. Scotland ‘over- indexes’ on a global scale when it comes to floating wind, representing 10% of the global pipeline.
- Scotland's Offshore Wind Potential: Over 40GW of offshore wind capacity, with 60% set to be floating wind.
- Economic Impact: Up to £1.5 billion of Scottish supply chain opportunity on average per project
- Investment Needed: More than £4 billion required for critical infrastructure development.
- Current Investments: The Bank has invested just under £200 million across seven offshore wind opportunities, alongside around £700 million from third parties.
- Supply Chain Requirements: 6,820 blades, 2,273 towers, 1,227 floating foundations, 23,447km of cables, and 76,000 vessel days.
The Bank and Offshore Wind
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