The Scottish National Investment Bank has committed £30m for the expansion of Aberdeen Harbour, the largest marine infrastructure project in the UK.
The bank’s loan aims to strengthen Aberdeen’s position as a key port hub for the UK’s large scale energy transition efforts.
The expanded facility will provide greater land and water access for offshore wind developers.
The increased capacity will also help the supply chain benefits of the recently announced ScotWind leasing round, supporting the bank’s mission to achieve a just transition to net zero.
Aberdeen’s Energy Transition Zone (ETZ) will be located adjacent to the South Harbour development.
The two sites aim to create a critical mass of offshore engineering experience to drive transition and maintain north-east Scotland as a centre of energy excellence, in line with the bank’s mission to extend equality of opportunity through improving places.
Scottish National Investment Bank chief executive Eilidh Mactaggart said: “The bank is delighted to invest in Aberdeen Harbour and a project strongly aligned with its net zero and place missions.
“The South Harbour project is a critical platform for the just transition in Scotland, delivering a high-specification facility which will shape industry in Aberdeen for decades to come and provide valuable space, as well as water access, for both offshore wind supply chain providers and offshore wind developers.”
The expanded port has been designed to accommodate larger, wider, and deeper vessels, while providing land-side facilities for the expansion of the offshore wind industry.
Aberdeen Harbour is a Trust Port and so is fully independent and run by a Board for the benefit of its stakeholders, with all profits being reinvested back into the business.