Key Scotwind port bagged by Japanese giant

Japanese giant Mitsui has reached a deal to acquire Nigg, one of the key ports earmarked to support Scotland’s massive offshore wind plans.

Mitsui will take full control of the Port of Nigg and associated facilities near Inverness in northeast Scotland following an agreement with current majority owner Global Energy Group (GEG).

The Japanese group said it is planning “significant investment” in expanding manufacturing capacity and quayside infrastructure to support both the offshore wind and oil & gas sectors at what is described as the "multi-energy facility".

Nigg is one of the ports earmarked to benefit from the potential installation boom sparked by Scotwind, the giant 2022 leasing round, and the smaller INTOG process that between them could underpin up to 35GW of capacity.

The availability of sufficient port capacity to meet booming demand for installation is a key concern in Scotland, especially given the heavy role of floating wind in the Scottish pipeline with the specific infrastructure requirements it brings.

Nigg was among a group of Scottish ports that in 2023 were named ‘freeports’, bringing tax and development incentives, and was chosen by Siemens Gamesa as its pre-assembly base for the Moray West wind farm project.

Mitsui had been an investor in GEG since 2012 and the acquisition deal – for which financial terms were not disclosed – will see it take ownership of three assets; the Port of Nigg, fabrication business Global Energy and services operation Global Energy Services.

The group’s ownership will be split between Mitsui & Co. (51%) and marine business Mitsui OSK Lines.

Mitsui said: “The Port of Nigg plays an indispensable role in the UK’s energy transition, particularly in offshore wind, and holds substantial potential for future growth. We are fully committed to leveraging our expertise and experience in maritime operations to contribute to the long-term development of the Highlands and to accelerate a more sustainable future.”