Aberdeen Harbour gets £30m to expand in support of new offshore wind facilities
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The Scottish National Investment Bank (SNIB) has confirmed it will provide £30m in funding to expand Aberdeen Harbour.
The expansion will be the largest marine infrastructure project in the UK and will include greater land and water access for offshore wind developers.
The increased capacity will also play a role in delivering the supply chain benefits from the recently announced ScotWind leasing round which saw 17 new offshore wind projects approved with an eventual generating capacity of 25GW.
Adjacent to the new development will be Aberdeen’s Energy Transition Zone (ETZ), which is helping the area to move away from fossil fuels.
Following the discovery of significant oil deposits in the North Sea during the mid-20th century, Aberdeen became one of Europe’s most significant oil hubs. The number of jobs created by the energy industry in and around Aberdeen has been estimated at half a million but the area now needs to transition as part of the UK’s plans to reach net zero carbon by 2050.
Eilidh Mactaggart, SNIB CEO, 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.
Bob Sanguinetti, Chief Executive of Aberdeen Harbour Board, said: “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.
“We are months away from opening our South Harbour expansion and look forward to beginning operational trials in the port at the end of the summer.”
The project is also funded by the European Investment Bank, Scottish Enterprise, and Aberdeen City Deal.
Kate Forbes, the Scottish Government's cabinet secretary for finance and the economy, said: “The £30m investment from the Scottish National Investment Bank is extremely significant and welcomed news.
“This high-quality commercial investment will support the expansion of Aberdeen Harbour and has the potential to underpin Aberdeen and the North East region’s role in securing a just transition to net zero by 2045.
“As well as supporting greener energy production, this will also help us deliver the type of harbour infrastructure needed to help us capitalise on the huge economic potential of Scotwind.”
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