The Bank’s loan will strengthen Aberdeen’s position as a key port hub for the UK’s large scale energy transition efforts. The expanded South Harbour facility will provide greater land and water access for offshore wind developers.
The increased capacity will also play a vital role delivering the supply chain benefits of the 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. Together they will 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.
Eilidh Mactaggart, CEO of the Scottish National Investment Bank said:
“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.”
Bob Sanguinetti, Chief Executive of Aberdeen Harbour Board, said:
“The Scottish National Investment Bank has recognised the value and importance of the expanded Aberdeen Harbour as a critical asset in the future of Scotland’s industries, and we would like to thank them for their commitment to the project.
“The port will provide customers and port users with scalable and flexible infrastructure, making it ideal for space-intense industries such as offshore wind, decommissioning, cargo and cruise.”