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2011 SPF Annual Conference: renewables can power Scottish recovery

Scotland can secure its economic future by becoming a global leader in renewable technology, the SPF Annual Conference heard today.

Adrian Wyatt, CEO of Quintain Estates, told delegates that Scotland's focus on promoting wind and tidal power could help it exploit "one of the major business opportunities of the century."

He said: "We are in the middle of an another industrial revolution. And it is a green one.

"The skill and knowledge implied in the Scottish Economic Recovery Plan has literally worldwide application, especially in energy, renewables, engineering and innovation.

"Existing mature cities need rebuilding in part, so maybe for debate both Edinburgh and Glasgow could be used as living experiments for retrofit and the green agenda."

Malcolm Naish, chairman of the SPF and director of real estate for SWIP, agreed that Scotland must play its "winning cards" if it is to emerge strongly from recession.

He forecast returns from UK property would reach 7pc a year over the next three years and 8.5pc over the next five years, largely driven by rental growth. 

However, he predicted that over time less energy efficient buildings would bring lower returns than their greener counterparts.

Professor Donald MacRae, chief economist at Lloyds Banking Group Scotland, predicted GDP growth for Scotland of 1.1pc in 2011, led by manufacturing growth of 3.1pc.

He also predicted that there would be sufficient private sector jobs created to take up the majority of those to be lost from the private sector.

However he warned that growth would be "feint", restrained by high inflation and weak consumer optimism.

ENDS

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