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【Savills】The renewable energy sector is future-proofing Aberdeen's economy

【Savills】The renewable energy sector is future-proofing Aberdeen's economy

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Aberdeen has been considered as the oil capital of Europe since the mid-20th century, and the number of jobs created by the energy industry in and around Aberdeen has been estimated at half a million.

However, with increased pressure on corporations and individuals to make sustainable decisions along with government policies such as Net Zero and the Paris Agreement the demand for oil and gas is on a gradual decline, with the movement towards renewable energy alternatives. This fall in demand was accelerated this year by the Covid-19 pandemic which saw oil prices fall to record lows. Aberdeen’s combination of on and offshore infrastructure, energy companies, a global supply chain, track record of research and development, and a highly skilled workforce means that Aberdeen is at the forefront of making energy transition ambitions a reality.

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