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Hunterston Marine Yard in Scotland

A shovel-ready opportunity to invest in the re-commissioning of one of Europe’s largest dry docks, providing much needed capacity to the UK’s growing offshore wind farm industry.

Hunterston Marine Yard introduces modernisation and delivery of a large dry dock located next to a deep-water port.

The yard is aimed at providing much needed capacity to the UK’s fixed and floating wind farm industry.

The necessary planning consents have been secured and there are ongoing discussions with developers.

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Location:

Hunterston Parc, west coast of Scotland

Investment type:

Co-investment, Co-ownership

Sector:

(Green finance and innovation, Offshore wind, Marine)

Project promoter:

Peel Ports Group

Scale:

£100 million

Time to Final Investment Decision (FID):

0-6 months

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Ummar Hanif

Senior Investment Specialist

Contact the opportunity lead

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Sector and market opportunity

The UK is at the forefront of developing new technology for floating wind assets that can be used in deep water.

A recent report commissioned by the Scottish government, highlighted the need for additional capacity in the Scottish offshore wind industry.

The report recommends a focus on floating offshore wind and highlights an additional 22 hectares of port capacity that could deliver £1.5 billion in economic benefit, and £4.5 billion in further investments.

Location

During the 1970s, the site was built to support the UK’s energy markets. Coal importation via a deep-water jetty, 450 metres long with water depth of 36 metres, was its main trade source.

The dry dock has historically been used to support construction of oil rigs. The scale of these assets is not easily replicated, which make them nationally important.

Connectivity

The yard is located at a deep-water port with onsite rail connectivity.

The site is also host to major road networks, including an on-site helipad and international airports, accessible within 30 miles.

It is ideally located to support the UK’s west coast offshore wind market.

Local talent and skills

Hunterston Marine Yard is located within proximity of Glasgow. The site draws on the Clyde’s rich maritime history and engineering expertise.

Socio-economic studies highlight the need for jobs within North Ayrshire and suggest 220 to 260 permanent jobs could be created by this investment.

Research and expertise

Hunterston has a vast array of stakeholders of which the majority sit on a strategic board led by North Ayrshire council. The board is hugely supportive of its redevelopment plans.

Members of the board range from key government agencies, such as Scottish Enterprise and Crown Estate Scotland to local colleges and international universities such as Strathclyde.

Environmental, social and governance (ESG) highlights

This opportunity helps to facilitate the UK’s energy transition to low carbon technology (offshore wind), enabling an increase in green hydrogen production.

The scheme itself will embrace low carbon products and alternative construction products – using sustainable working principles to reduce ongoing non-renewable resource waste.

Promoters and partnerships

Peel Ports group is the second largest port operator in the UK. The organisation has a successful track record in delivering major marine infrastructure projects.

Recent examples include the 400 metre deep water terminal at the port of Liverpool, fully commissioned and successfully operating with global JV Partner Terminal Investments Limited Sarl.

Local and national government support

The dry dock has secured financial support from the Scottish government for £10 million.

Hunterston Parc is the recipient of £18 million from the growth deals fund from the UK and Scottish governments to support research and development into low carbon and circular economies.

Key stakeholders such as North Ayrshire council and Crown Estate Scotland are hugely supportive of the site’s ambitions.

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The government is identifying new projects across the whole of the UK. Investors who are interested in our projects can find out more by contacting us.

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