The Scottish National Investment Bank has announced a significant investment of £20 million to support XLCC, a subsea cable manufacturer, in developing a new manufacturing facility at the former Hunterston Terminal in Ayrshire. This investment is part of a broader initiative by the Scottish government to strengthen the offshore wind supply chain in Scotland.
Key Details of the Investment:
- Job Creation: The new facility is expected to create around 900 jobs, including more than 200 apprenticeships, contributing to local employment and skills development.
- Production Capacity: Once operational, the facility will be capable of producing thousands of kilometers of high-voltage direct-current (HVDC) cable each year, which is essential for transporting electricity over long distances [1].
- Strategic Importance: Ian Douglas, CEO of XLCC, emphasized that the investment will help meet the growing demand for subsea cables, which is projected to be two-and-a-half times greater than the current supply by 2030 [1].
- Government Commitment: This investment aligns with the Scottish government’s commitment to invest up to £500 million over five years to anchor the offshore wind supply chain in Scotland [1].
- Collaboration with NWF: The National Wealth Fund (NWF) is also supporting the project, having announced an initial investment of £20 million last September, with the potential for an additional £67 million based on specific milestones achieved by XLCC [1].
Quotes from Officials:
- Craig Stevens, investment director at the Scottish National Investment Bank, stated, “Realising Scotland’s potential as a global clean energy producer depends on a robust local supply chain” [1].
- Gillian Martin, Acting Cabinet Secretary for Net Zero and Energy, noted that the facility will not only enhance Scotland’s offshore wind manufacturing capability but also support high-quality green jobs and economic growth [1].
This investment is a significant step towards bolstering Scotland’s renewable energy infrastructure and supporting the transition to a net-zero economy.
Learn more:
- Scotland injects £20m in XLCC cable maker on former nuclear site
- UK Infrastructure Bank and XLCC confirm subsea cable investment | National Wealth Fund
- Subsea cable manufacturing investment announced for Hunterston
