Scotland will lead on clean power, says Ian Murray on visit to Edinburgh-based energy company

He said the announcement that the UK Government’s new public energy company GB Energy would be headquartered in Aberdeen with satellite offices in Edinburgh and Glasgow would see Scotland at the cutting edge of the industries of the future.

Great British Energy - backed with £8.3 billion of new money over this parliament - will invest in projects that expect a return on investments. Profits will either provide a return for the Exchequer, benefiting the taxpayer, or be channelled into projects such as clean energy infrastructure.

Ian Murray visits Nova Innovation | supplied

Visiting Nova Innovation in Leith, Mr Murray said the company - which installed the world’s first offshore tidal array in Shetland in 2016 and recently launched a joint venture to lead the roll-out of floating solar power stations across the globe - was a great example of Scottish firms playing a key role in the clean energy future.

Mr Murray said: “Scotland will lead the UK on the transition to net zero and clean power thanks to Great British Energy being owned by the public and based in Aberdeen. It puts us at the cutting edge of the jobs and the industries of the future.

“The UK Government inherited a dire economic situation from the previous government, with a £22 billion black hole in spending.

“But the economic inheritance we face isn’t just fiscal. It is also structural. It is industrial. The foundations of Scotland’s industrial economy are weak. In recent weeks we have seen the consequences of more than a decade without a credible industrial strategy from governments at both Holyrood and Westminster.

“Scotland has a proud industrial past, and we will have a bright industrial future if we get the transition to net zero right - a future with jobs and wealth for families for generations and generations to come.

“That’s why getting on with establishing Great British Energy is so crucial. It’s a key part of how we will fix the foundations of our economy and create a brighter future for Scottish jobs and industry.”