Haventus secures £100 million credit facility for Ardersier Port redevelopment

Haventus, the facilities provider that owns Ardersier Port, has secured a £100 million joint credit facility from the Scottish National Investment Bank and UK Infrastructure Bank (UKIB) with a £50 million investment from each.

Ardersier Port, east of Inverness, underpins the creation of a nationally significant infrastructure facility to support industrial-scale deployment of fixed and floating offshore wind. Haventus began redeveloping the site in 2023.

The two banks recently signed a Memorandum of Understanding to formalise their working relationship on projects like this. Both recognise the ‘strategic significance’ of the port.

Al Denholm, Scottish National Investment Bank CEO, said: “We expect the site at Ardersier to be of significant strategic importance in supporting the growing offshore wind industry over the coming years. We are pleased to fund this development and to be doing so with the UK Infrastructure Bank.

“The project perfectly aligns to our net zero mission and illustrates the benefits of our two organisations working together.”

The latest financing comes after a £300 million capital commitment by Quantum Capital Group, announced when redevelopment began.

Haventus has taken a final investment decision and construction has begun on the site. Based in Moray Firth, Ardersier Port will offer a 450-acre site with quayside access and infrastructure for marshalling, integration, manufacturing and assembly of offshore wind components. 

Chief executive of Haventus, Lewis Gillies, commented: “We are delighted to have secured the support of the two banks 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.

“With work now underway on site, we aim to have the facility open and operational in the second half of next year.”

The redevelopment will support the scale and project timeline of the ScotWind programme with its capacity having recently increased to 27.6GW over the next decade. In particular, clearing aged oil and gas assets in the North Sea can support the creation of additional space for offshore renewable generation and bolster the Scottish offshore wind sector.

Capable of hosting and supporting gigawatt-scale projects, Ardersier Port will be the largest dedicated offshore wind port deployment facility in Scotland. Once operational, the port will be re-established as a major local employer.

John Flint, CEO of UKIB, added: “This is a great opportunity to support this crucial sector, alongside the Scottish National Investment Bank, in what will be a nationally significant project for the UK energy transition, while also helping to grow the local Scottish economy.”

Commenting on the news, UK Government minister for nuclear and renewables, Andrew Bowie, said: “The UK has a record on offshore wind it can be truly proud of, with the most installed capacity in Europe and home to the five largest operational windfarms off our shores.

“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.”

Scottish Green Freeports

Scotland has been receiving support for the transition of its ports to low-carbon technologies to facilitate the energy transition. In mid-January 2023, The UK Government announced two new green freeports were to receive £52 million in capital. These were in Inverness and Cromarty Firth and Firth of Forth.

Green Freeports have been classified as areas which incorporate a range of technologies in a bid to boost innovation and inclusive growth within communities contributing to the creation of green jobs. Fundamentally, these also support economic transformation.