Deal facts
- Deal closedMay 2024
- SectorPorts
- LocationArdersier, Scottish Highlands
- Total investment£100m
- Our finance£50m
- ProductSenior debt
Providing critical infrastructure for offshore wind projects
Ports play a vital role in offshore wind projects, from installation, operations and maintenance, through to eventual decommissioning. This means significant additional port infrastructure needs to be built for the UK to reach net zero targets.
The National Wealth Fund (which was the UK Infrastructure Bank at the time of the investment) is providing a £50m capex loan to Haventus to revive and redevelop up to 350 acres of land at Ardersier Port to create a hub for offshore wind projects. Located in the Moray Firth, Ardersier sits right at the centre of Scotland’s Floating Offshore Wind (FLOW) sites meaning it is perfectly located to play a key role in the energy transition, allowing it to serve a large part of the 24GW of FLOW that is expected to be deployed for Scotwind/INTOG. Not only will our investment support the development of a nationally significant energy transition facility, but the project will also help to regenerate the local economy after its loss of the oil and gas (O&G) activity at Ardersier in 2001.
Our financing is provided alongside a £50 million loan from Scottish National Investment Bank (SNIB) and is the first deal since the two organisations signed a Memorandum of Understanding to formalise their close working relationship. The £100 million provided by the NWF and SNIB follows a £300 million capital commitment announced in 2023 by leading energy investment firm Quantum Capital Group.
A word on the deal
Simon Little, NWF Banking and Investments Director, said:
Supporting the regeneration of Ardersier will not only help provide a base for offshore wind developments crucial to the UK energy transition, but also create jobs and boost skills in the region. Our investment, alongside SNIB, means the work on the project has commenced without delay. This is precisely why we are here and we’re proud to be supporting Haventus in this exciting project.
“We are delighted to have secured the support of the NWF and SNIB as important partners in this nationally significant project. 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.”
Lewis Gillies
Chief Executive, Haventus
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