Brodies advises on £100m credit facility for Ardersier Port development

Brodies advises on £100m credit facility for Ardersier Port development

Michael Stoneham

Brodies LLP has advised on a £100 million joint credit facility to transform Ardersier Port in Inverness-shire into a major energy transition facility.

Haventus, the energy transition facility provider and owner of Ardersier Port, secured an investment of £50 million each from the UK Investment Bank and the Scottish National Investment Bank.

It is the first ever project to be co-financed by the two banks, and will see the creation of Scotland’s largest dedicated port facility to support the deployment of fixed and floating offshore wind turbines. Ardersier Port is also one of the designated tax sites for the Inverness and Cromarty Firth Green Freeport.

Brodies, led by banking and finance partner Michael Stoneham, was the lead legal adviser to Ardersier Port, parent company Haventus and equity provider Quantum Capital Group.

Mr Stoneham said: “We’re delighted to have been able to field a cross-discipline team to advise Ardersier Port, Haventus and Quantum Capital Group on this major, collaborative investment. The redevelopment of Ardersier Port is locally and nationally significant on a number of levels; creating employment, regeneration and economic opportunities, as well as playing a key role in the journey towards net zero.”

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