Scotland’s national bank has committed £30 million funding for the expansion of Aberdeen Harbour.  

The loan, from the Scottish National Investment Bank, is part of a multi-million pound redevelopment of the site, the largest marine infrastructure project in the UK. 

The expanded facility will provide greater land and water access for offshore wind developers and will be able to provide space for cruise ships.

The £350m development, called South Harbour, is due to be completed later this year. 

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It will be located next to Aberdeen's Energy Transition Zone, a Scottish government-funded initiative to accelerate the energy sector's transition to net-zero emissions. 

It is also expected to strengthen the city's position as a "key port hub" for the UK's large-scale energy transition efforts. 

HeraldScotland:

In October, the city council confirmed BP as its preferred bidder for a commercial partnership to help Aberdeen become a leading hydrogen hub. 

The harbour and BP are also exploring the potential for a pilot project to supply shore power. This would allow vessels to turn off their main engines while in port to reduce emissions and noise. 

Eilidh Mactaggart, CEO of the Scottish National Investment Bank, said: “The Bank is delighted to invest in Aberdeen Harbour and a project strongly aligned with its net zero and place missions. 

 “The South Harbour project is a critical platform for the just transition in Scotland, delivering a high-specification facility which will shape industry in Aberdeen for decades to come and provide valuable space, as well as water access, for both offshore wind supply chain providers and offshore wind developers.” 

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Bob Sanguinetti, Chief Executive of Aberdeen Harbour Board, added: “The Scottish National Investment Bank has recognised the value and importance of the expanded Aberdeen Harbour as a critical asset in the future of Scotland’s industries, and we would like to thank them for their commitment to the project. 

“The port will provide customers and port users with scalable and flexible infrastructure, making it ideal for space-intense industries such as offshore wind, decommissioning, cargo and cruise. 

 “We are months away from opening our South Harbour expansion and look forward to beginning operational trials in the port at the end of the summer." 

 The project is also funded by the European Investment Bank, Scottish Enterprise, and the Aberdeen City Deal. 

 As a Trust Port, Aberdeen Harbour is fully independent and run by a Board for the benefit of its stakeholders, with all profits being reinvested back into the business