Port of Montrose Secures Public-Private Deal to Boost Renewable Energy Growth
A public-private agreement has been reached to help expand operations and attract new investment at the Port of Montrose.
A Scottish Enterprise grant of £3.2 million will support a £7.2 million project to acquire and develop land just under two miles from the port.
The new strategically-important site, Montrose Port Industrial Park, will offer both existing and new companies greater flexibility to grow and adapt alongside Scotland’s thriving renewables sector.
The Scottish Enterprise investment is part of the Scottish Government’s commitment to invest up to £500 million over five years to develop the offshore wind supply chain and leverage an additional £1.5 billion of private investment.
Deputy First Minister Kate Forbes said: “Scotland’s offshore wind sector is already creating significant opportunities, delivering jobs and attracting major investment across the country.
“The Scottish Government has made it clear that Scotland is open for business and we are working closely with Scottish Enterprise and public sector partners to maximise investment and drive growth in the sector.
“The Port of Montrose is a key asset in supporting Scotland’s offshore wind industry. This investment is the latest in a series of strategic commitments we have made to unlock new opportunities and secure Scotland’s future as a renewables powerhouse.
Scottish Enterprise CEO Adrian Gillespie said: “The expansion of Montrose Port is hugely important to providing new infrastructure and space to support the continued growth of the offshore wind sector.
“Montrose Port Authority has exciting plans for the future and we are pleased to back that kind of ambition which will attract further investment into Scotland’s economy.”
CEO of Montrose Port Authority Tom Hutchison said: “This investment marks a pivotal moment for Montrose Port, further establishing our role as a key hub in Scotland’s renewable energy sector. By expanding capacity and attracting new investment, we are creating valuable opportunities for business growth, job creation and long-term economic prosperity – both locally and across Scotland.
“We are delighted that Scottish Enterprise recognises the potential of this project and supports our vision for sustainable growth. This development reinforces Montrose’s position at the forefront of Scotland’s energy transition, ensuring we continue to drive innovation and play a vital role in the offshore wind sector for years to come.”