A major redevelopment project at a former oil and gas fabrication yard has received a significant boost with a £100m loan from UK and Scottish government-backed banks. The company leading the initiative, Haventus, has embarked on the construction of a port at Ardersier near Inverness, aimed at supporting offshore wind farms.
The 450-acre (182ha) site, part of the Inverness and Cromarty Firth Green Freeport initiative, will feature a 650-metre (2,132ft) new quayside. This redevelopment is set to facilitate the large-scale deployment of offshore wind turbines. Haventus has secured a joint credit facility from the Scottish National Investment Bank (SNIB) and the UK Infrastructure Bank (UKIB), with each institution contributing £50m.
Including the latest funding, Haventus has raised a total of £400m for the port’s construction. This significant investment is intended to create a pivotal hub for offshore wind operations, enhancing the UK’s renewable energy infrastructure. Construction on the quay wall and associated quayside has already commenced, with the site expected to open in 2025.
Last year, the project gained a substantial investment of £300m from Quantum Capital Group, an energy investment firm, reflecting strong confidence in the port’s potential. This funding marks one of the largest industrial regeneration efforts in the Highlands in recent history.
A spokesperson for Haventus expressed satisfaction with the financial support from the two banks, emphasizing that this partnership is crucial for the project’s success. With the backing of these financial institutions and Quantum, Ardersier Port is poised to become a vital offshore wind hub, fostering job creation and contributing significantly to the nation’s net zero goals.
The Ardersier site has a rich history, initially established in the 1970s as the McDermott Yard, a fabrication and construction facility for offshore platforms during the North Sea oil and gas boom. At its peak, the yard employed approximately 4,500 individuals. However, operations ceased in 2001 as demand waned.
Scotland’s leadership views this development as central to the country’s future, promoting a more sustainable and equitable future. The growing offshore wind sector presents a unique opportunity not only for achieving a just transition to net zero but also for leveraging the skills within the energy sector and broader supply chain. The redevelopment of Ardersier Port, integral to the goals of the Inverness and Cromarty Firth Green Freeport, epitomizes this potential.
The UK government recognizes Scotland’s pioneering role in offshore wind technology, acknowledging the nation’s impressive track record. The UK boasts the most installed offshore wind capacity in Europe and is home to the five largest operational wind farms worldwide.
The redevelopment of Ardersier Port exemplifies the collaborative efforts between the UK and Scottish governments, private investors, and local communities. This project aims to harness Scotland’s renewable energy potential, positioning the country at the forefront of the global green energy transition.
As the project progresses, it may serve as a blueprint for similar initiatives across the UK and beyond. In the nation’s quest to meet its net zero targets, developing strategic infrastructure like this is essential. Such initiatives promise not only to invigorate local economies but also to ensure sustainable growth and energy security for future generations.
In summary, the transformation of Ardersier Port by Haventus marks a significant step forward in the UK’s renewable energy capabilities. The substantial financial commitments from government-backed banks and private investors underscore the project’s importance. As work continues, the redevelopment is expected to play a crucial role in supporting offshore wind energy, creating jobs, and advancing the UK’s net zero ambitions.
