03 Feb '12, 9pm

Multinationals Invade Scotland for Offshore Wind Wealth: Samsung Heavy Industries just made a 100-million-poun...

Multinationals Invade Scotland for Offshore Wind Wealth: Samsung Heavy Industries just made a 100-million-poun...

Samsung Heavy Industries just made a 100-million-pound ($158 million) commitment to offshore wind in Scotland, where the harnessing of far-offshore, deeper-water wind was first proven. This investment in the future of offshore wind follows a 100-million-pound commitment from Mitsubishi Power Systems and a 40-million-pound ($63.3 million) commitment from Spanish wind turbine manufacturing giant Gamesa. With Scotland’s 206-gigawatt offshore resource virtually untapped and the U.K.’s Crown Estate intent on building 30 gigawatts of ocean wind capacity by 2020, Samsung and the other two multinationals are betting that Scotland offers high winds, heavy industry and big returns . The Crown Estate administers activity in the waters of the U.K.’s wide outer continental shelf. Ostensibly property of the British throne, revenues earned from offshore resources are, in fact, paid to th...

Full article: http://www.greentechmedia.com/articles/read/multinational...

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