UK Leasing

Scottish Bank invests £30m in Aberdeen Port upgrade – Reuters

The Scottish National Investment Bank has committed £30m to the Port of Aberdeen expansion, the UK’s largest maritime infrastructure project.

The bank’s loan aims to strengthen Aberdeen’s position as a key port hub for the UK’s large-scale energy transition efforts.

The expanded facility will provide better access to land and water for offshore wind developers.

The increased capacity will also contribute to the supply chain benefits of the recently announced ScotWind rental cycle, supporting the bank’s mission to achieve a just transition to net zero.

The Aberdeen Energy Transition Zone (ETZ) will be located adjacent to the South Harbor development.

Both sites aim to create a critical mass of offshore engineering experience to drive the transition and sustain the North East of Scotland as a center of energy excellence, in line with the bank’s mission to expand the equal opportunity by improving the premises.

Scottish National Investment Bank chief executive Eilidh Mactaggart said: “The bank is delighted to be investing in the Port of Aberdeen and a project strongly aligned with its net zero and place missions.

“The South Harbor project is a key platform for Scotland’s just transition, providing a high specification facility that will shape industry in Aberdeen for decades to come and provide valuable space, as well as access to the water, for both suppliers in the offshore wind supply chain. and offshore wind developers.

The expanded port has been designed to accommodate larger, wider and deeper vessels, while providing land-side facilities for the expanding offshore wind industry.

Aberdeen Harbor is a trusted port and is therefore fully independent and managed by a board of directors for the benefit of its stakeholders, with all profits plowed back into the business.