Port of Ardersier owners Haventus secures £100 million investment

The owner of the Port of Ardersier – Haventus – has secured £100 million worth in loans “to support industrial-scale deployment of fixed and floating offshore wind” that could pave the way to creating “hundreds” of jobs.

The ground-breaking ceremony was due to start as The Inverness Courier was going to print with the endorsement of new First Minister John Swinney who said the funding “demonstrates the huge confidence in this new facility.”

The Scottish National Investment Bank (the Bank) and UK Infrastructure Bank (UKIB) each awarded Haventus £50 million – marking a new stage in the state-owned investment bank’s co-operation.

It is the largest investment of its kind from the two banks in the region after the pair signed a memorandum of understanding at the start of the month to “attract additional private investment into Scotland.”

That £100 million will be added to the private finance for £300 million from Quantum Capital Group that Haventus announced last year which has already seen the site cleared ready for large-scale redevelopment.

The sums involved dwarf the seed capital of £52 million to be shared by Scotland’s two Green Freeports – Ardersier is already part of the Inverness and Cromarty Firth Green Freeport.

Ardersier aims to underpin the creation of a “nationally significant infrastructure facility to support industrial-scale deployment of fixed and floating offshore wind” to take advantage of the 35 GW potentially available.

That comes from both the ScotWind and Innovation and Targeted Oil and Gas (INTOG) sites – the latter aims to use floating wind to electrify oil and gas infrastructure in the North Sea.

And because of Ardersier’s position on the Moray Firth it is seen as strategically ideal for both. So Haventus says it has taken a “final investment decision and construction has now begun on the site” – including for a new 650-metre quay wall.

Once operational, the facility will significantly increase the offshore wind port capacity, to support the transition to net zero that will be key to the political firtunes of the new First Minister John Swinney.

He said: “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.

“The Ardersier Port redevelopment, which is central to the ambitions of the ground-breaking Inverness and Cromarty Firth Green Freeport, exemplifies this opportunity.

“This show of support from both banks demonstrates the huge confidence in this new facility and its role in helping deliver a fairer, greener future for everyone.”

The UK Government was just as pleased with the minister for nuclear and renewables Andrew Bowie MP said: “Scotland is a pioneer in this important technology, and infrastructure investment of this size is a welcome boost to our clean energy targets, while supporting the local economy with new jobs and opportunities.”

While Exchequer Secretary to the Treasury Gareth Davies added: “This latest deal in Scotland’s growing clean energy sector is another example of the UK Infrastructure Bank delivering on its mandate to tackle climate change and boost regional growth.

“Not only is this investment another important step towards our net zero transition, but it will support hundreds of jobs and grow the economy."

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