Pentland Floating Offshore Wind Project

About Pentland

The project is being developed by Highland Wind Limited, is majority owned by Copenhagen Infrastructure Partners P/S (CIP). It will use a number of innovative technologies to help accelerate the industrialisation of floating offshore wind (FLOW) while delivering significant benefits to the local economy. More than 1,000 jobs are expected to be created and supported throughout construction and operation. 

This investment demonstrates how public finance institutions can work together to support early-stage technologies within the clean energy sector, aiming to crowd in private capital in support of the government’s growth and clean energy missions.

Why we invested

Our investment in Pentland aligns with our net zero mission to address the climate crisis through a fair and sustainable economy while also supporting our place mission, which aims to transform communities and help people thrive

FLOW projects hold huge potential for the UK’s energy market, which has been identified as the top market in terms of readiness for investment and as an area of strategic importance for UK supply chain development.

Scotland has the offshore wind capacity to deliver 40GW of electricity, which is enough to power millions of homes while creating jobs and boosting the economy. Floating offshore wind farms are critical to realising this opportunity. They can be developed in locations where fixed turbines aren’t viable, and they represent 60 per cent of the potential energy pipeline.

"The offshore wind potential in Scotland is considerable both as a source of energy and, particularly with floating, to export our supply chain. However, substantial investment is needed to capitalise on the opportunity and ensure it delivers transformational impact for our economy and our communities. The Bank has developed significant expertise in Scotland’s burgeoning offshore wind sector and has invested in all areas of the supply chain. Our commitment of up to £50m to support the Pentland Project is an important step toward developing a thriving and sustainable economy.”

Mark Munro

Chief Investment Officer

Key Information

Key Mission

Net Zero

Amount Invested

£45m

Location

Hunterston

Co-investors

Centrica, Goldman Sachs, KIRKBI and Mosaic Capital.

Key Quote

Nischal Agarwal, Partner in CIP, said:

“Copenhagen Infrastructure Partners (CIP) is committed to playing a full role in helping to deliver the UK Government’s Clean Power 2030 vision, and we are delighted to welcome NWF, GBE and the Bank as new partners to our Pentland Floating Offshore Wind project. FLOW holds significant potential to innovate, reduce its technology costs, and establish a world leading UK supply chain capable of enabling scale-able low carbon power generation to meet future growth in electricity demand."

Pentland Floating Wind