Calendar An icon of a desk calendar. Cancel An icon of a circle with a diagonal line across. Caret An icon of a block arrow pointing to the right. Email An icon of a paper envelope. Facebook An icon of the Facebook "f" mark. Google An icon of the Google "G" mark. Linked In An icon of the Linked In "in" mark. Logout An icon representing logout. Profile An icon that resembles human head and shoulders. Telephone An icon of a traditional telephone receiver. Tick An icon of a tick mark. Is Public An icon of a human eye and eyelashes. Is Not Public An icon of a human eye and eyelashes with a diagonal line through it. Pause Icon A two-lined pause icon for stopping interactions. Quote Mark A opening quote mark. Quote Mark A closing quote mark. Arrow An icon of an arrow. Folder An icon of a paper folder. Breaking An icon of an exclamation mark on a circular background. Camera An icon of a digital camera. Caret An icon of a caret arrow. Clock An icon of a clock face. Close An icon of the an X shape. Close Icon An icon used to represent where to interact to collapse or dismiss a component Comment An icon of a speech bubble. Comments An icon of a speech bubble, denoting user comments. Ellipsis An icon of 3 horizontal dots. Envelope An icon of a paper envelope. Facebook An icon of a facebook f logo. Camera An icon of a digital camera. Home An icon of a house. Instagram An icon of the Instagram logo. LinkedIn An icon of the LinkedIn logo. Magnifying Glass An icon of a magnifying glass. Search Icon A magnifying glass icon that is used to represent the function of searching. Menu An icon of 3 horizontal lines. Hamburger Menu Icon An icon used to represent a collapsed menu. Next An icon of an arrow pointing to the right. Notice An explanation mark centred inside a circle. Previous An icon of an arrow pointing to the left. Rating An icon of a star. Tag An icon of a tag. Twitter An icon of the Twitter logo. Video Camera An icon of a video camera shape. Speech Bubble Icon A icon displaying a speech bubble WhatsApp An icon of the WhatsApp logo. Information An icon of an information logo. Plus A mathematical 'plus' symbol. Duration An icon indicating Time. Success Tick An icon of a green tick. Success Tick Timeout An icon of a greyed out success tick. Loading Spinner An icon of a loading spinner.

‘Independence could bring £30billion energy windfall’

SPREADING THE WORD: First Minister Alex Salmond  speaks at the London School of Economics last night
SPREADING THE WORD: First Minister Alex Salmond speaks at the London School of Economics last night

An independent Scotland could build up a £30billion investment fund on the back of renewable energy, Alex Salmond claimed last night.

In a speech at the London School of Economics, he said if Scotland had full fiscal control since 1979 it could have established a fund – similar to that in Norway – worth anything from £87billion to £117billion from North Sea oil and gas.

The first minister’s speech was the third he has given in the past month to persuade audiences south of the border on the “merits” of independence.

Last night he said renewables would be the source of Scotland’s “re-industrialisation” and Scottish waters held a further 40 years’ worth of oil and gas.

“The debate about independence is about looking forward and creating a better future for Scotland,” Mr Salmond said. “With that future in mind, we still have an opportunity to establish an energy fund to benefit future generations.

“Even just £1billion a year – less than 10% – invested over 20 years, would create a fund for Scotland worth almost £30billion.

“An independent Scotland would pursue policies of ambition and responsibility. We would use Scotland’s natural resources and skilled workforce to build a sustainable economy.” He cited research by think-tank Reform Scotland that suggested Scotland could export half the electricity generated by 2020 because of the Scottish Government’s renewable energy targets.

He said: “Reform Scotland estimates that as a result of our renewable electricity target Scotland would export half the electricity generated by 2020 – increasing Scottish exports by £2billion a year, equivalent to around 17% of Scottish manufacturing exports to the rest of the UK.”

Recommended for you

More from Energy Voice

Latest Posts