Categories: Hunterston, News, Peel PortsPublished On: 10.09.2020345 words1.8 min read

The Scottish government has launched a green investment portfolio including plans for developing Hunterston port (pictured) in Ayrshire to serve the floating offshore wind industry.

(Image: Peel Ports)

Hunterston Port and Research Centre (PARC) is seeking between £10m and £30m from an investment partner to develop infrastructure to support floating wind construction and oil sector asset decommissioning and recycling.

The site, owned by Peel Ports, is also seeking up to £100m of investment in developing onsite power generation through the scheme, and said this could include waste-to-energy, biomass, hydrogen/gas or solar.

The Green Investment Portfolio promotes market-ready projects that will help Scotland transition to a net-zero economy by 2045 and are seeking private capital.

The scheme’s initial launch includes ten opportunities worth £1.16bn with the portfolio planned to be expanded over time to be worth £3bn.

Hunterston PARC’s proposals would see its marine yard, which it says is home to one of the world’s largest dry docks, refurbished.

Once developed it would include a 140 by 230 metre dry dock and 700 metres of additional deep water quayside for assembly and commissioning of turbines as well as 25 hectares of laydown space.

It said that that multi-year commitments from “globally recognised energy participants” would make it an attractive infrastructure investment.

Meanwhile the site has the potential for a large grid connection and Hunterston PARC said the National Grid was seeking load stabilisation solutions at the site.

Scottish Economy Secretary Fiona Hyslop said: “Worth around £300trn globally, we know that the market for green finance is burgeoning and Scotland’s natural assets and reputation for innovation make it a highly attractive place for that investment.

“We know investors need credible projects that reduce emissions to match their own green ambitions. By assessing these projects before they go to market, the Green Investment Portfolio gives global investors the confidence they need to back projects in Scotland.”

Other proposals in the green investment portfolio include a £200m investment opportunity in an Inverurie Energy Park which would cover an energy-from-waste plant also supplying a local heat network.

Source: renews.biz website