Ardersier Port, situated near Inverness, has successfully secured a £100 million investment from two state-owned banks to aid its development into a vital renewable energy hub.

The Scottish National Investment Bank and the UK Infrastructure Bank have each contributed £50 million to Haventus, the company overseeing the port, which is also benefiting from green tax incentives as part of the Inverness and Cromarty Firth Green Freeport.

This new financing arrives on the heels of a £300 million commitment from Quantum Capital Group in 2023, marking the commencement of significant redevelopment efforts at the port. The newly funded projects include the construction of a 650-metre quay wall and related infrastructure, aiming to transform Ardersier into Scotland’s premier offshore wind facility.

Lewis Gillies, CEO of Haventus, expressed his enthusiasm, stating, “We are delighted to have secured the support of the two banks as important partners in this nationally significant project. With their support, and that of Quantum, Ardersier Port is poised to become a critical offshore wind hub and an important job creator and enabler. It will play a crucial role in helping the country meet its net zero ambitions.”

Construction is already underway, with plans to have the facility operational by the latter half of next year. This rapid progress is attributed to effective collaboration with local councils, regulatory bodies, and government departments.

Michael MacDougall, a partner at Quantum Capital Group, shared his positive outlook on the collaboration: “Quantum is delighted that the banks have chosen to work alongside us. From the outset, we were impressed by their leadership, thought partnership, and diligent effort to help us deliver a facility that will create significant benefit in terms of regeneration, support for net zero transition, and creation of new employment.”

Both banks have highlighted the strategic importance of the Ardersier Port in the renewable sector. Al Denholm, CEO of the Scottish National Investment Bank, remarked, “We expect the site at Ardersier to be of significant strategic importance in supporting the growing offshore wind industry over the coming years.”

John Flint, CEO of the UK Infrastructure Bank, echoed this sentiment, emphasizing the need for substantial port infrastructure investments to optimize the potential of offshore wind by 2030.

This investment not only promises substantial job creation but also strengthens Scotland’s position as a leader in renewable energy, aligning with the UK’s broader goals for a net zero transition and regional economic growth.