Port of Aberdeen
£30 million of funding for the expansion of Aberdeen Harbour, the largest marine infrastructure project in the UK.
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.
''The Bank is delighted to invest in Aberdeen Harbour and a project strongly aligned with its net zero and place missions.''Eilidh Mactaggart
CEO - Scottish National Investment Bank
European Investment Bank
Aberdeen City Deal
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.”
Alignment to the United Nation's Sustainable Development Goals
All of the investments the Bank makes support the UN's Sustainable Development Goals. This investment supports the goals below:
Affordable and Clean Energy
Establishes a hub for sustainable jobs and energy transition, acting as a logistical gateway and catalyst for further investment
Decent Work and Economic Growth
Provides opportunities for oil and gas workers to retain and embrace new roles in renewable energy
Industry, Innovation & Infrastructure
As a trust port, any profits are reinvested to benefit stakeholders, including local communities and interest bodies
Brings together offshore engineering experience to drive transition and maintain Aberdeen as an energy centre of excellence
Life Below Water
Reduced impact on marine life, including the first use in the UK of a marine “double bubble” curtain