Subsidiary of China's State Development & Investment Corporation aims to increase investment in Scotland's renewables sector and build on its offshore wind projects.
Scotland's First Minister Nicola Sturgeon has opened Red Rock Power Limited's new offices in Scotland.
The Chinese company - a subsidiary of the State Development & Investment Corporation (SDIC) - will use the new base in Edinburgh to plan further investment in Scotland and build on their existing offshore wind projects.
SDIC, a state-owned investment holdings company, has already invested in Scotland's growing offshore wind sector.
Nicola Sturgeon said:
"SDIC’s presence here is a vote of confidence in our renewables sector and we are committed to working closely with SDIC to support their investments in Scotland. I hope this marks the start of a new and successful chapter for both SDIC and Scotland’s renewables sector."
Finding renewable energy investment opportunities in Scotland
Abundant natural resources, decades of offshore experience and a supportive business environment make Scotland the perfect location for investing in the offshore wind industry.
At the opening of the Red Rock's new office, SDIC Chairman, Wang Huishen, said:
"SDIC is keen to find more investment opportunities in Scotland and will try to be an excellent model in terms of the enterprise development, the co-operation between China and the West, good employee-employer relations and the good relationship between the government and businesses.
"We are looking forward to participating in more areas of Scottish economic development and contributing more to the prosperity of Scotland."
Take a closer look at Scotland's offshore wind industry
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Welcoming SDIC's investment in Scotland, our managing director, Paul Lewis, said:
"SDIC’s investment not only reinforces the global potential of our renewables sector, but also how attractive Scotland is to overseas investors.
We've a well developed business ecosystem, competitive environment and world class skills base, which has helped us become the top performing location for inward investment in the UK outside of London.
"China in particular is a key market in terms of attracting this type of investment and we look forward to working closely with SDIC to support its ambitions in Scotland."
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