A Labour government will end the “grotesque situation” of Scotland failing to reap the economic benefits of its wind farm boom – amid a pledge to create “hundreds of thousands of jobs in the industries that can power our future”.

Ed Miliband, Labour’s shadow energy security and net zero secretary, told the Scottish Labour conference in Glasgow that his party’s plans will transform Scotland into “the clean energy capital of the United Kingdom”.

Mr Miliband set out Labour’s £8 billion plans to set up the publicly-owned GB Energy, as a key element of the party’s green prosperity plan.

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He pointed to past promises to set up a public energy company by the SNP, warning that “they have failed to deliver”.

He said: “45% of our offshore wind is owned by foreign governments.

“If it is good enough for Norway, if it’s good enough for Denmark, if it’s good enough for France, if it’s good enough for Sweden, it’s good enough for Scotland and it’s good enough for the United Kingdom.

“We are going to have a national wealth fund that is going to invest in carbon capture in Scotland – in steel, in electric battery factories, in our ports, in hydrogen.

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“We’re going to have a British jobs bonus. It’s about saying to companies, if you locate and manufacture in Britain, we will give you a clear incentive to do so.

“We want to end the grotesque situation where we have massive offshore wind farms off the coast of Scotland, but not a piece of them is built here in Scotland. We are going to change that.”

Mr Milband told the conference that the strategy “adds up to Scotland being the clean energy capital of the United Kingdom” and kickstarting “a just transition across Scotland, especially for our oil and gas communities”.

He added: “We will create hundreds of thousands of jobs in the industries that can power our future – hydrogen, carbon capture and storage, floating offshore wind.”

The Scottish Government has insisted that green hydrogen can be a £25 billion industry for Scotland – but very little has happened to get the sector off the ground.

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Mr Miliband stressed that “hydrogen is incredibly important to our future”, pointing to “industrial uses” and as “a potential source of long-term storage”.

But he warned the Scottish and UK governments “don’t have a proper vision for the role hydrogen is going to play”, adding that “they are not driving it forward at sufficient speed”.

Mr Miliband said Labour has committed to invest “extra money” in carbon capture technology and “£500m in terms of electrolyser factories through GB Energy” which will aim to scale up and bring down production costs of green hydrogen.

He added: “The scale of the challenge is so big that we are going to need all of the technologies at our disposal and hydrogen is definitely part of the story.”

His comments came as business leaders in the north east of Scotland raised concerns about the impact of failing to invest in the oil and gas sector.

It has been reported that business leaders including Sir Ian Wood, the founder of the Wood Foundation, the Scottish, Aberdeen and Grampian chambers of commerce, the co-leaders of Aberdeen City Council and others wrote to Labour leader Sir Keir Starmer to tell him the country needs to “encourage, not deter, investment” in new North Sea fields.

Raising concerns about the impact of Labour’s proposed North Sea windfall tax, they told him: “If North Sea production is to cease prematurely, a certain outcome of this policy, then our entire energy transition is undermined.”

Industry body Offshore Energies UK has already warned as many as 42,000 jobs and £26 billion of economic value could be lost under Labour plans to extend the windfall tax on UK oil and gas producers.

But Mr Miliband insisted Labour will not just deliver on climate change, “but on the economic change that this country needs”.