The prediction came in a report by banking giant HSBC, which praised the city for its burgeoning base in research and engineering expertise.

The bank identified Glasgow, along with Bristol, as one of two new business powerhouse cities in its latest Future Of Business report.

It said the downturn was proving a catalyst for trailblazing green businesses and entrepreneurs.

Europe's biggest windfarm, the 140-turbine Whitelee, on Eaglesham Moor, and the 152-turbine Clyde windfarm near Abington, Lanarkshire, which began production this week, were cited as examples of green energy successes .

Other ventures include the Centre of Engineering Excellence in Renewable Energy, set up with Strathclyde University, in Glasgow city centre. It is co-ordinating a partnership between Scottish and Southern Energy and Mitsubishi to develop low-carbon energy sources.

Organisers of the Glasgow 2014 Commonwealth Games have also promised to make the event the most environmentally friendly in history.

Other projects that won praise include the Sustainable Glasgow initiative, which aims to make the city one of the most green in Europe within a decade through low- carbon infrastructure and energy-saving.

The report described Glasgow as a "leading international force in the renewable energy sector".

Jim Whyte, who was involved in the research for Future Laboratory, said: "The city's research capabilities will ensure its position at the forefront of renewable energy developments, with Strathclyde University and the Sustainable Glasgow consortium leading the way."

The Scottish Government has also vowed to generate all of Scotland's electricity needs from renewables by 2020.

Scottish Energy Minister Fergus Ewing said: "Glasgow's long tradition of engineering excellence continues into 21st century technologies.

"Glasgow is already attracting investment from renewables pioneers in offshore wind and Scottish Enterprise's new International Technology and Renewable Energy Zone aims to establish Glasgow as a top location for inward investment.

"The city continues to influence innovation, with Strathclyde University's new Technology and Innovation Centre a transformational project to strengthen Glasgow's international reputation for research excellence in energy."