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| Osborne announces £103m 'new money' for renewables | |
| (40 minutes later) | |
| Chancellor George Osborne has announced an extra £103m funding for renewable energy in Scotland. | |
| He said the money from the Fossil Fuel Levy was additional to the UK government's existing budget and the spending of the Scottish government. | |
| Scotland's Finance Secretary John Swinney said the funds were "long awaited" but welcome. | |
| Accompanied by Chief Secretary to the Treasury Danny Alexander, Mr Osborne made the announcement in Easter Ross. | |
| The Scottish government has been calling for money to be released from the Fossil Fuel Levy, which is held by Ofgem, so investments can be made in onshore and marine renewable projects. | |
| Mr Swinney said: "For too long Scotland's money has been sitting unspent in an Ofgem account in London." | |
| He added: "Scotland has the natural renewables resources to become the green energy powerhouse of Europe using all forms of renewables including hydro, wave, tidal, onshore and offshore wind." | |
| 'Modern energy' | |
| Mr Osborne made the announcement at a former oil rig construction yard at Nigg. | |
| Last month, it was revealed the site was to become a service hub for the energy industry. | Last month, it was revealed the site was to become a service hub for the energy industry. |
| Inverness and Aberdeen-based Global Energy Group purchased Nigg from KBR and the Wakelyn Trust for an undisclosed fee. | Inverness and Aberdeen-based Global Energy Group purchased Nigg from KBR and the Wakelyn Trust for an undisclosed fee. |
| The company intends to develop the 238-acre (96.14 hectares) to meet contracts from the oil, gas and marine energy markets. | The company intends to develop the 238-acre (96.14 hectares) to meet contracts from the oil, gas and marine energy markets. |
| The firm expects to employ 2,000 people by 2015. | The firm expects to employ 2,000 people by 2015. |
| First Minister Alex Salmond travelled to Nigg to make last month's announcement. | First Minister Alex Salmond travelled to Nigg to make last month's announcement. |
| He also confirmed funding of £1.8m from Highlands and Islands Enterprise (HIE) - to help transform the site into what Scottish government sources call a "multi-use modern energy park". | He also confirmed funding of £1.8m from Highlands and Islands Enterprise (HIE) - to help transform the site into what Scottish government sources call a "multi-use modern energy park". |
| Nigg is expected to compete for work with Ifab, a new yard in nearby Invergordon opened by Aberdeen and Invergordon-based Port Services Group. | Nigg is expected to compete for work with Ifab, a new yard in nearby Invergordon opened by Aberdeen and Invergordon-based Port Services Group. |