The Elite Ayrshire Business Circle

The Elite Ayrshire Business Circle

Monday, 21 January 2008

Proven case for investment in Ayrshire wind turbine manufacturer

By: Murdoch MacDonald

A WIND TURBINE manufacturing scheme in Ayrshire is among the latest projects to be supported by Scottish Government Regional Selective Assistance (RSA) cash.


The RSA quarterly report includes a £250,000 grant to Proven Energy Ltd based in Stewarton to create 29 new jobs in the development, manufacture and installation of small-scale wind turbine systems.

Enterprise Minister Jim Mather said: “Wind turbine projects such as Proven Energy’s can play an integral role in ensuring that Scotland becomes a world leader in green energy, while helping to substantially cut carbon emissions.

“This is exactly the kind of investment project that will help this Government move towards its aim of increased, sustainable economic growth. We will be publishing our consultation on the Scottish Climate Change Bill this month. That will outline the Government’s commitment to tackling emissions and will provide more opportunities for green jobs.

“Regional Selective Assistance, in the absence of tax varying powers, is a scheme which stimulates job creation, enables business to flourish and helps create a greener and wealthier Scotland.”

Proven Energy chief executive Andrew McMullan said: “Proven Energy started up over 25 years ago as a small family-run business with a big mission - to make a greener world and a healthier environment.

“A number of external and environmental factors have presented huge opportunities for Proven Energy. We knew that we had to adapt in order to scale up and meet these challenges.

“Assistance from the Scottish Government has helped us to build an environment that is fit for growth.”

About Regional Selective Assistance

Regional Selective Assistance (RSA) is the main national scheme of financial assistance to industry. It provides discretionary grants for investment projects that will create or safeguard jobs in Assisted Areas - areas designated for regional aid under European Community law. The scheme is administered by the Innovation and Investment Grants (IIG) unit of the Scottish Government.

Payments of RSA are made in instalments, typically over several years, provided that job and project expenditure targets are met.

The amounts quoted here and in the report therefore represent the maximum grant potentially payable if the project is satisfactorily completed, and not the amount actually paid to date.

All job numbers are based on firms' forecast figures at the time a grant is offered, and are subject to change depending on future economic conditions and other factors affecting the business concerned.

About Proven Energy

Stewarton-based Proven Energy is a Scottish-based manufacturer and distributor of small-scale wind turbines for use in domestic and commercial environments.

After starting up 25 years ago, the company now has a global footprint with 1,500 turbines installed across the globe which are currently generating green energy from Antarctica to the Sahara Desert.

Proven Energy Ltd
Wardhead Park
Stewarton
Ayrshire
KA3 5LH
Scotland

Telephone: +44 (0)1560 485570

Website: www.provenenergy.co.uk

Ayrshire Scotland Business News -
where Ayrshire business news breaks first!

No comments: