Bussiness
How the global energy transition can transform Scottish businesses
There’s no doubt that doing a complete restructure of a whole energy system from fossil fuels to total green energy is complex, fraught with challenges and very difficult. However, for Scotland as for many economies, the journey to net zero energy also presents huge opportunities for business, industry and the economy.
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Scotland already has a thriving energy sector and those companies currently serving the oil and gas industry are obvious candidates to benefit from a move to renewables.
In response to the changing energy landscape, Scotland’s national economic development agency Scottish Enterprise (SE), is supporting businesses to prepare for, and to reap the rewards of, the global energy shift.
New opportunities for Scottish industry
Suzanne Sosna, director of energy transition at Scottish Enterprise, says SE is uniquely placed to help businesses focus on high growth opportunities while mitigating some of the risk that can come with diversification.
She said: “Our core purpose is to help industries and businesses to innovate and scale-up. Alongside that, the energy transition offers an opportunity to be part of the next industrial revolution that will change how we live and work. Our role is to piece these two factors together, helping companies build a sustainable future for themselves by becoming part of the new energy system and market.”
As part of its large-scale ‘Energy Transition Mission’, Scottish Enterprise undertook extensive research relating to the opportunities associated with the energy transition sector. It can advise not only on identifying opportunities, but also on planning, investment and funding, and accessing global markets.
And the agency is keen to also promote the opportunities for SMEs and specialists who have not worked in the energy industry previously.
Suzanne added: “Scotland has the potential to become a global player in emerging energy markets. The renewable sector draws on natural resources, like wind, wave, and tidal power, all of which we have in abundance.
“Working in challenging outdoor and subsea environments and scientific and technological expertise also sets Scotland apart.
“We need to capitalise on these advantages now.”
Rewards are clear to see
The figures look promising – spending on offshore wind will reach £29 billion by 2030 under Scottish Government plans, Scotland’s clean heat market is thought to be worth £31bn this decade, and the Scottish hydrogen economy could support up to 75,000 jobs by 2045.
Scottish Enterprise predicts that there is the potential to double the number of companies operating across energy sectors.
Suzanne explained: “We can support companies to diversify and scale up so they can take full advantage of the opportunities.
“While there are risks involved in diversifying, the potential rewards can far outweigh them. Scottish Enterprise has a role to play in mitigating some of that risk and supporting companies so that they can access these opportunities.
“At Scottish Enterprise, we’re actively engaging with many businesses and always keen to engage with more. We’re here to help connect them to the right areas of the support network that we have across Scotland.”
To facilitate this, Scottish Enterprise is working with partners like Scottish Engineering, Scottish Renewables, Highlands and Islands Enterprise and South of Scotland Enterprise.
Working together for a brighter and greener future
Suzanne believes there are bright times ahead for Scottish industry. She concluded: “Scottish companies are uniquely placed to build on our competitive advantages, help transform Scotland’s economy and secure our place as a global player in the renewables sector. Whether you are a company currently operating within the energy sector or an SME within engineering or the manufacturing supply chain, get in touch with us.
“Our team can help you get started in seeking out new opportunities for a prosperous, sustainable and positive future.”
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