LONDON - Iberdrola-owned Scottish Power and Shell said on Wednesday they will invest 75 million pounds ($99 million) in infrastructure and facilities to support the growth of the offshore wind industry in Scotland.
The two companies were awarded seabed rights to develop two floating wind projects in Crown Estate Scotland's ScotWind leasing tender in January.
They said they would invest 50 million pounds in supply chain stimulus funds for those two projects, which have a total capacity of 5 gigawatts (GW).
A further 25 million pounds of funding will come from Scottish Power for its 2 GW fixed foundation offshore wind project which also won seabed rights in ScotWind.
Collectively, the planned projects have the potential to create enough clean energy to power almost 8.5 million homes.
Applications to the funds will open up later in the year, ScottishPower said.
($1 = 0.7614 pounds)