The development, construction and 25-year lifetime operation of Beatrice is expected to generate £2.4 billion of value for the UK economy, of which £1.05 billion gross value added (GVA) is expected to be in Scotland, new independent analysis has found.
According to the new analysis by BiGGAR Economics, commissioned by the joint venture partners, and published today in a report by SSE Renewables, Beatrice contributed £460 million to the Scottish economy during the development and construction phases, as part of a total £1.3 billion contribution to the wider UK economy. Now beginning its 25-year operational phase, Beatrice’s economic benefit is set to be even greater, with the project expected to add £72 million of value to the UK economy on average every year, of which £34 million will be in Scotland.
The analysis also found that during development and construction, the project provided 19,110 years of employment in the UK of which 7,180 were in Scotland. Over the 25-year operational life of the wind farm, the high level of investment in the UK and Scotland during this period is expected to result in 800 jobs in the UK on average each year, of which 370 are expected to be in Scotland.
“The successful commissioning of Beatrice marks the end of a 10-year journey” said Jim Smith, Managing Director of lead development partner SSE Renewables. “In that time thousands of people have, directly and indirectly, contributed to the development and construction of this world-class renewable generation site. Beatrice delivers transformative socio-economic benefits to the UK, Scotland and to the regions, not just during construction but for decades to come. This is borne out in the publication today of an important independent analysis which demonstrates that Beatrice will deliver a multi-billion pound boost to the UK economy over its full lifetime, from initial development to the end of its operational life. Our experience at Beatrice also provides learnings which SSE Renewables will apply to maximise the expected socio-economic benefits from our 7GW pipeline of future offshore wind projects.”
Around £2.5 billion was invested in the development and construction of Beatrice, making it the largest private sector investment in Scottish history. This expenditure was found to amount to 24 percent Scottish content, with total UK content at 49 percent. Over the 25-year operational life of Beatrice, an estimated £2.7 billion will be spent on the operation and maintenance of the wind farm. This will bring the estimated lifetime UK content up to 62 percent for the UK as a whole, and 39 percent lifetime content for Scotland.
“Today is a fantastic milestone for Scottish offshore wind, with clean energy being generated at significant scale and new jobs created” said John Robertson , Head of Energy & Infrastructure for Crown Estate Scotland, the public body that manages seabed leasing. “We’re delighted to have worked closely with the Beatrice partners. As we prepare to launch Scotland’s new round of offshore wind leasing, this success offers a glimpse of how new projects can benefit the climate, communities and Scotland as a whole.”
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