Highland Port Secures £100m Credit Boost for Offshore Wind Hub
A Highland port in the Moray Firth, set to become an “offshore wind hub”, has received a significant financial boost from UK and Scottish government-backed banks. The port, owned by Haventus, is currently undergoing redevelopment on its 450-acre site between Inverness and Nairn.
The transformation of the former McDermott construction yard is expected to support future offshore wind projects across the UK and Europe in the transition to net zero. It will also enable the domestic decommissioning of aged North Sea oil and gas assets. The Inverness and Cromarty Firth Green Freeport site, where the port is located, is set to open in 2025 and is projected to create hundreds of jobs.
Already underway at the site is the construction of a new 650-metre quay wall and associated quayside. Once completed, the port will have the necessary infrastructure for the marshalling, integration, manufacture, and assembly of offshore wind components. It will become the largest dedicated offshore wind deployment port facility in Scotland, capable of hosting and supporting gigawatt-scale projects.
In 2023, the project received a £300m investment from Quantum Energy Partners. Haventus has now secured a joint credit facility from the Scottish National Investment Bank (SNIB) and UK Infrastructure Bank (UKIB), with a £50m boost from each. Lewis Gillies, Haventus chief executive, expressed the company’s delight in receiving support from the banks. He added, “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.”
The project’s progress has been achieved in a short period, thanks to the constructive engagement with the Highland Council, consenting agencies, regulators, and government departments. This investment of £100m marks the first time SNIB and UKIB have co-financed a project since the two banks signed a memorandum of understanding formalising their close working relationship on projects like this.
John Swinney, Scotland’s new first minister, recognized the banks’ show of support as a demonstration of “huge confidence” in the development. He believes it will help deliver a “fairer, greener future for everyone”. Swinney added, “Scotland’s growing offshore wind capabilities presents an era-defining opportunity – not only to achieve a just transition to net zero, but to harness the skills which lie across our energy sector and wider supply chain to create thousands of green jobs and transform our regional and national economies.”
Andrew Bowie, UK government minister for nuclear and renewables, praised Scotland as a “pioneer” in offshore wind technology. He also highlighted the UK’s record in offshore wind, with the most installed capacity in Europe and home to the five largest operational windfarms off its shores.
