SNP welcomes IoD’s dismissal of ‘alarmist’ Citigroup report


by a Newsnet reporter

The SNP today welcomed comments from Simon Walker, Director General of the Institute of Directors, reported on Newsnet Scotland, as he labelled this week’s Citigroup report on Scotland’s vast renewable energy potential as “alarmist”.  The report was used by David Cameron in the House of Commons to dismiss the idea that an independent Scotland could have a viable renewably energy policy and was widely reported in the Unionist media.

MSP Rob Gibson, SNP representative for Caithness, Sutherland and Ross, and convener of the Environment, Rural Affairs and Climate Committee said:

“These are very welcome comments from a highly respected business source that show the Citigroup report really has jumped to misguided ill-founded conclusions.

“It is simply scaremongering from Citigroup, which has been recognised by Mr Walker.

“He has also highlighted how ridiculous it is to say don’t invest in Scottish renewables because of future constitutional possibilities.

“Scotland’s renewables sector is going from strength to strength.  Scottish Renewables say there has been £750 million worth of investment over the last 12 months and industry plans for the future total £46 billion of capital investment.

“Recent research from Garrad Hassan showed renewables could provide 185% of Scotland’s electricity needs by 2030, surpassing 100% by 2020.

“That is extremely encouraging and shows the SNP Government can achieve its target of 100% by 2020.

“The claims from Citigroup were completely wrong.  Scotland has an abundance of renewables, keeping it an attractive market to investors now and in the future.”