Scottish Government Launches Low Carbon Innovation Fund
The Scottish government is launching an $83 million (GBP 60 million) fund to ‘keep Scotland at the forefront of low carbon innovation’.
The Low Carbon Infrastructure Transition Program (LCITP), which is co-funded by the European Regional Development Fund (ERDF), will help large scale projects which support the ambitions of Scotland’s Energy Strategy.
Projects which deliver low carbon heating solutions, integrated energy systems, and ultra-low emission vehicle charging infrastructure will be able to apply for up to $138,964 (GBP 100,000) to develop investment-ready business cases. Financial support of up to 50 percent of the total capital value of a project, up to a maximum of $13.8 million (GBP 10 million) per project, is also available for capital–ready projects.
“For a nation with Scotland’s resources and skills, the transition to a more prosperous, low carbon and circular economy also presents a valuable economic opportunity,” said Scotland’s climate change secretary, Roseanna Cunningham, in a government statement.
“We are determined to attract, retain and develop the low carbon innovators who will shape our future,” Cunningham added.
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