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New analysis demonstrates growing renewables economic impact

New report from Fred. Olsen Renewables finds wind farms responsible for delivering wide-ranging economic benefits to the Scottish economy, including 866 jobs, millions of pounds of community benefit funds and local supply chain contracts.

One of the UK’s longest standing renewable energy developers, Fred. Olsen Renewables has today published an economic impact report which quantifies the economic impact of its operations in the UK to date. The report identifies:

  • A headline impact of £465 million contribution to the Scottish economy
  • Contracts signed with Scottish businesses totalling £920m
  • 866 full-time equivalent jobs arising directly from construction, operation and maintenance of its projects

The report, which is based on an independent analysis by Stantec economic development specialists, highlights the significant impact that the nine renewable energy projects operated by Fred. Olsen Renewables in Scotland have on the national economy as a whole, and the local economies in which they operate.

One of the biggest developments operated by the company is Crystal Rig in the Lammermuir Hills straddling the Scottish Borders and East Lothian. Across the whole site, 91 turbines are turning, creating enough electricity to power over 116,000 homes. As well as helping to meet the energy needs of the UK, and contributing towards Scotland’s net zero targets, Crystal Rig also delivers major tangible economic benefits for the local area. 

As well as these direct economic benefits, Fred. Olsen Renewables also provides community benefit funds to communities within the vicinity of their sites. The company pioneered this concept in the 1990s, delivering the first ever community funds in Scotland. Across the lifespan of their wind farms, £14.6 million will be distributed to communities across Scotland.

Finley Becks-Phelps, UK Development Director at Fred. Olsen Renewables, said:

“We’re proud of the role that Fred. Olsen Renewables plays in Scotland. Not only towards the country’s climate change targets and energy security, but economically, contributing hundreds of millions of pounds to Scotland’s national output and creating hundreds of Scottish jobs. 

This has been achieved by working in collaboration with stakeholders, communities and the supply chain. To date, we have awarded contracts worth £920 million to businesses local to our wind farm sites. We add value right across the supply chain, making a substantial impact across the economy.

The success of our community benefit funds is down to the partnerships we build with local communities we work with. We really appreciate the effort that these communities put into project delivery. We place great importance on helping groups build capacity and empowering communities to make important decisions about the future of their local areas.”