£70m investment from Crown Estate Scotland will support offshore renewables as well as carbon storage
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Crown Estate Scotland has set out how it intends to invest £70 million in coastal communities including by promoting green energy.
The organisation published its three-year plan which it says will also support community regeneration and sustainable food production.
Working on behalf of Scottish ministers, Crown Estate Scotland is responsible for managing the rights for offshore renewable energy sites as well as gas and carbon dioxide storage out to 200 nautical miles.
It also manages agreements with undersea cable and pipeline operators.
On top of this, it manages fishing rights for wild salmon and sea trout in river and coastal areas including the Inner Moray Firth and the leasing of offshore fish farming sites out to 12 nautical miles.
On land, its interests range from retail units in the centre of Edinburgh to energy, forestry and other commercial operations on rural estates in Speyside.
In its plan, Crown Estate Scotland sets out how it will manage sea, land and coastline for the benefit of Scotland’s communities and businesses.
In the first two years since being established in 2017, the organisation says it has returned more than £20 million to the Scottish Government for public spending.
Crown Estate Scotland chairwoman Amanda Bryan believes the proposals outlined in the three-year plan will bring even greater dividends.
She said: “Over the coming years we want to invest in property, natural resources and people to generate lasting value. From growing shellfish to new ways of farming, regenerating coastal communities to building Scotland’s blue economy, our focus will be sustainable growth that benefits all.
“We are looking forward to working with communities and businesses to deliver positive change for Scotland.”
The new proposals, which operate under new legislation that focuses on sustainable development, include investment in commercial-scale offshore wind leasing, a new communities fund and a range of measures to support new ways of producing food on land and at sea.
In her introduction to the report, Ms Bryan writes: "Our work across seabed, coastline, rural estates and more, spans key sectors including offshore renewables, aquaculture, farming and ports and harbours, and it impacts thousands of people and businesses. With this wide reach comes a responsibility to manage the assets in a way that delivers for all, including, importantly, building a net-zero emissions economy.
"Our work will focus on five key objectives of supporting the blue economy; creating great places; promoting sustainable natural resource use; involving people in how the estate is managed; and using our skills to benefit others."
