05/22/2013– Lloyd-Westcord Takes Notice as Samsung Invests in Wind Energy

Lloyd-Westcord witnessed the announcement of Samsung that it will base its first European offshore wind project in Fife with an investment of worth up to £100 million. It is expected to create 500 new jobs in the clean energy sector in Scotland.

Samsung Heavy Industries (SHI) that is based in Korea has also signed a multi-million pound deal with David Brown Gear Systems (David Brown) based in East Kilbride. This is to supply gearbox systems for its next generation of offshore wind turbines. SHI will be working closely with Scotland’s economic development agency, which is the Scottish Enterprise, as well as with Fife Council.

Several other companies noted by Lloyd-Westcord that have announced similar investments in Scotland are Mitsubishi Powers Systems, Hewlett-Packard, FMC Technologies, Dell, Taqa, Ineos, Avaloq, PetroChina, Aker, Gamesa, BNY Mellon, State Street, and Amazon. The total of their investment reached almost £400 million.

Wind turbines in Scotland provide an average capacity factor of 40 percent higher on its northern and western coasts. This is far above the European Union average of 25 percent generation of electricity. The location of Scotland is ideal for wind power. There are a number of projects already underway and some that are already producing an ample amount of energy.

Lloyd Westcord has become one of the largest Canadian based investment managers focusing on the growing environmental commodities markets. Our mission is to generate attractive returns by investing in environmental markets such as those that accelerate the reduction of greenhouse gases and air pollution or increase renewable energy generation.