The expansion will be the largest marine infrastructure project in the UK and will include greater land and water access for offshore wind developers.
The increased capacity will also play a role in delivering the supply chain benefits from the recently announced ScotWind leasing round which saw 17 new offshore wind projects approved with an eventual generating capacity of 25GW.
Adjacent to the new development will be Aberdeen’s Energy Transition Zone (ETZ), which is helping the area to move away from fossil fuels.
Following the discovery of significant oil deposits in the North Sea during the mid-20th century, Aberdeen became one of Europe’s most significant oil hubs. The number of jobs created by the energy industry in and around Aberdeen has been estimated at half a million but the area now needs to transition as part of the UK’s plans to reach net zero carbon by 2050.
Eilidh Mactaggart, SNIB CEO, said: “The Bank is delighted to invest in Aberdeen...