Deputy First Minister has welcomed the announcement
of up to £50 million investment from the Scottish National
Investment Bank in a floating offshore wind farm near Caithness.
The Pentland Floating Offshore Wind Farm will be located off the
coast of Dounreay, supporting more than 1,000 jobs from
construction to operation, with the capacity to generate enough
green electricity to power up to 70,000 homes.
The Bank joins Great British Energy and the National Wealth Fund
who will each invest up to £50 million to become shareholders in
the Pentland project, which is being developed by Highland Wind
Limited and is majority owned by Copenhagen Infrastructure
Partners.
Ms Forbes said:
“This is the Bank's first direct investment in an offshore wind
farm, sending a strong signal to the market that floating wind is
of critical importance for Scotland's energy transition, our
supply chain and our economy.
"This means the Bank can work closely with the developer to
support the Scottish supply chain, enhance innovation, boost
local job opportunities and receive financial returns.
“The Scottish Government is doing everything within its power to
realise the once-in-a-generation opportunity presented by
offshore wind in terms of jobs, innovation, skills and a just
transition to net zero. This is why we are investing up to £500
million over five years to create a highly productive,
competitive offshore wind economy."
Background
Scotland is leading the way in floating offshore wind through our
Innovation and Targeted Oil and Gas and ScotWind leasing rounds -
this extensive pipeline of projects, along with our world
leading subsea engineering capabilities, strong heritage and
skills base and extensive pipeline of projects means we are
primed to capture the first mover advantage in floating wind,
leading to jobs and economic growth.
