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Scottish Enterprise backs port overhaul

Peel PortsScottish Enterprise (SE) has approved a funding offer of £10m towards Peel Ports’ £30m proposed project to redevelop its 300 acre Hunterston Port and Resource centre (PARC) site in North Ayrshire.

The site is aimed to support the development of renewable energy, including offshore wind, as well as the recycling of assets used in the oil and gas sector. The project will go before the Peel Ports board for final approval in January 2019.

SE’s stated support is expected to help Peel Ports to unlock private sector investment at the site. Potential uses for the site include material management, pre-fabrication, manufacturing, data storage, power generation, decommissioning and recycling.

The project aims to support the transformation of the Scottish energy sector, moving it towards a low carbon future while delivering economic and environmental benefits for North Ayrshire and Scotland.

According to SE, recent estimates suggest that decommissioning alone could be worth around £11 billion to the Scottish economy.

Minister for Energy, Connectivity and the Islands, Paul Wheelhouse MSP, said: “This funding offer is a significant step towards Peel Ports realising its ambitions for Hunterston, which will deliver significant benefits for North Ayrshire and Scotland for decades to come.

“This project represents a sizeable economic opportunity for the area, creating much-needed employment as well as valuable infrastructure which will help transform Scotland’s energy sector and support our commitment to a more circular economy.”

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