Lincoln-based energy company, Freewatt, has said that it has £63 million of investment riding on the outcome of Thursday’s Scottish Independence vote.
The company has been working on 11 solar farm projects in Scotland, after grid constraints and site scarcity have seen developers head further north.
The projects include a 20MW and a 5MW solar farm. However, the realisation of Freewatt’s potential solar portfolio is currently shrouded in uncertainty ahead of the country’s vote for independence.
It’s not clear what a ‘Yes’ vote would mean for projects that are looking to claim income from UK government schemes such as the renewable obligation and the feed-in tariff. Freewatt says that it is still not clear whether an independent Scottish government would honour the UK’s range of clean energy grants.
Freewatt’s CEO Julian Patrick, said: “There is so much uncertainty it’s hard to predict whether independence, if it comes, will delay the projects or stop them but we will be working hard with our partners to find a way forward.”
Freewatt is predicting strong growth for the rest of the year, regardless of the outcome of the Scottish Independence — with projects lined up from Devon to Northumberland.
Patrick added: “The developments in Scotland are part of a really ambitious development plan for Freewatt and we are watching the events unfold with great interest. Thankfully the projects north of the border are just part of our plans for the next 18 months so we are confident our growth will be strong whatever the outcome.”
Earlier this week Bloomberg New Energy Finance warned that a 'yes' vote on Thursday could bring renewable energy investment in Scotland to a temporary halt.