My Lords, perhaps I might raise a specific point which I had intended to raise under the group of amendments beginning with Amendment 65 on renewable energy. In an odd way, it comes back to the joint investment projects which my noble and learned friend Lord Davidson and the noble Lord, Lord Sanderson, raised. My point relates to offshore renewable energy. I draw attention to my entry in the register of Members’ interests as a non-executive director of the Offshore Renewable Energy Catapult.
The Offshore Renewable Energy Catapult is a government-funded technology facilitator funded by Innovate UK, which, of course, is part of the Department for Business, Innovation and Skills. It is based in Glasgow and has developments in other parts of the UK. In particular, it has just taken over a development at Methil in Fife. The kind of joint investment projects I am seeking protection for, and clarification of their future status, are ones that probably have not yet taken place. If we are going to get investment in cutting-edge technology such as offshore wind, wave or tidal, some government money will have to be put into it. Will the Minister be so kind as to look at what protections there would be for investments made by UK government-funded agencies, perhaps in partnership with the private sector—in the way that the noble Lord, Lord Sanderson, outlined with Fort Kinnaird—to ensure that there is no diminution in the value of those investments as we move forward?
This is quite a technical point and it may be that the Minister would prefer to write to me. But it is the kind of thing which, in terms of precedent, requires a degree of clarification at this point. It may be an arcane point, but now is the time to get such points sorted out.
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