Further financial boost for billion pound Hunterston development

The redevelopment of Hunterston has been given a boost after receiving £20 million from the Scottish National Investment Bank.

A £150m project to transform the former coal terminal in North Ayrshire into a renewables hub is hoped to create over 5,000 jobs and attract £3.5 billion in investment.

In November last year, XLCC, a high-voltage direct current cable (HVDC) manufacturing company, was awarded a £9 million grant by Scottish Enterprise to continue developing its £1.4b Hunterston cable manufacturing facility.

Now, the Scottish Government's investment programme – aimed at focussing on Scotland’s windfarm supply chain – has stepped in to help steer the completion of this work.

Acting Cabinet Secretary for Net Zero & Energy Gillian Martin said: “Stimulating private investment and providing market certainty is central to ensuring that Scotland’s vast and growing offshore wind capabilities deliver economic growth, jobs and prosperity across the country.

“It is precisely why the Scottish Government, working in partnership with the Scottish National Investment Bank and our enterprise agencies, is taking a strategic approach to attracting investment to the infrastructure and facilities needed to turn vision into reality.

“The Bank’s investment in XLCC’s subsea cable manufacturing facility at Hunterston is the first in a series of game-changing investments being made to help leverage £1.5 billion of private investment through up to £500 million of Scottish Government investment over five years.

“The project demonstrates Scotland’s growing reputation as a global centre of renewable energy, and the way in which the Scottish Government is working in partnership with the public and private sectors to deliver jobs, business and further economic opportunities across the country.”

Peel Ports Clydeport owns the site and has been granted planning permission to fill in the dry dock and create a "hub for the blue and green economies".

Plans for the 350-acre (142 hectares) site include the world's largest Liquid Air Energy Storage facility and subsea cable manufacturing.

Lewis McIntyre, Managing Director, Port Services, Peel Ports Group said: “The Scottish National Investment Bank’s £20m investment in XLCC is very welcome.

“It is yet another vote of confidence in Hunterston’s vast potential to support the UK’s energy transition and, in so doing, create quality green jobs in Ayrshire, as well as in the wider supply chain – we expect the overall redevelopment of Hunterston to attract c£3bn in inward investment and create over 5,000 jobs.

“XLCC is a hugely valued tenant at Hunterston, and the HVDC cable manufacturing facility is set to play a major role in meeting electricity demand, something we are extremely proud to facilitate.”

Hear the latest news on Clyde 1 on FM, DAB, smart speaker or the Rayo app.