£30m heading towards expansion of Aberdeen Harbour

£30 million is being put towards the expansion of Aberdeen Harbour from the Scottish National Investment Bank.

With it just months from becoming operational, the bank’s loan aims to strengthen Aberdeen’s position as a key port hub for the UK’s large scale energy transition efforts.

Once the facility is expanded, it will mean 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 recently announced ScotWind leasing round, supporting the bank’s mission to achieve a just transition to net zero.

Aberdeen’s Energy Transition Zone (ETZ) is being located adjacent to the South Harbour development.

Together, it'll lead to the creation of a critical mass of offshore engineering experience to drive transition.

That aims to 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 expansion of the port has been designed to accommodate larger, wider, and deeper vessels, while providing land-side facilities for the expansion of the offshore wind industry.

According to the bank, the new facility will aim to keep Scotland at the forefront of international marine and offshore innovation for decades to come.

Eilidh Mactaggart, CEO of the Scottish National Investment Bank, 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."

Bob Sanguinetti, the Chief Executive of Aberdeen Harbour Board, is thankful to the bank for its commitment: