Scottish Wind Farms Distribute £1 Billion to Foreign Investors
Scottish wind farms have disbursed over £1 billion to foreign shareholders in recent years, raising concerns about local economic benefits. The findings highlight the need for increased community ownership to ensure local stakeholders benefit from Scotland's renewable energy resources.
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Foreign owners of Scottish wind farms, including entities from China, France, Norway, and Sweden, have paid over £1.15 billion to shareholders in the last five years. Notably, IIF International Holdings LP, a Cayman Islands fund, controlled 15 wind farms that reported dividends exceeding £450 million, with the Farr wind farm alone contributing nearly £110 million.
The renewable sector claims to support more than 47,000 jobs in Scotland. However, calls for local ownership are intensifying, as currently only about 1% of onshore wind capacity is community-owned. Stakeholders argue that increased local participation could enhance economic benefits and community resilience in the renewable energy sector.
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