Inverness & Cromarty Firth Green Freeport to Create 11,300 Jobs, Attract £6.5BN Investment
The Inverness and Cromarty Firth Green Freeport (ICFGF) has signed a landmark Memorandum of Understanding (MoU) with the UK and Scottish governments, The Highland Council, and other key stakeholders. This move aims to transform the Highlands into a major international hub for the renewable energy sector, aligning with the Scottish Government's Fair Work First policy.
The ICFGF, with a vision to create a globally competitive hub for floating wind, green hydrogen, and advanced manufacturing, is expected to bring up to 11,300 jobs to the region over the next 25 years. This includes creating more than 11,000 long-term jobs and attracting over GBP 6.5 billion of investment. The project aims to ensure benefits reach communities from Wick to Inverness, investing in skills, housing, and opportunity.
The UK government has committed GBP 25 million in funding to support infrastructure projects and partner ports of ICFGF. Additionally, the Ardersier Energy Transition Facility has secured a GBP 100 million joint credit facility for infrastructure deployment of fixed and floating wind turbines. The facility has already placed contracts with over 110 local firms as part of its development.
The ICFGF, with its ambitious plans and substantial backing, is set to significantly boost the Highlands' economy. The project's focus on community benefits and local investment ensures that the region will reap the rewards of this green energy revolution.
Read also:
- Tesla-powered residences in Houston create a buyers' frenzy
- Texas-based energy provider, TXU Energy, and automotive giant, Ford Motor Company, plan to lower the expenses of electric vehicle (EV) charging at home.
- Enhancing the framework or construction of basic facilities and systems for better functionality and efficiency.
- The quest for renewable energy sources leaves us questioning the consequences on our oceanic ecosystems.
