Scotland has received a greater share of support from the Westminster government’s National Wealth Fund than any other part of the UK.
New figures show the Fund has committed more than £2.8 billion of capital to projects in Scotland, accounting for more than a quarter of the £10.9bn so far invested.
These commitments have helped to drive a total of £6.6bn of public and private finance across Scotland.
The Fund is based in Leeds and has a total of £27.8bn available. Aside from its investments it has awarded a £36.6bn term loan for Sizewell C to underpin £68bn of public and private finance into the UK economy.
The figures, published today in the National Wealth Fund’s second Impact Report, set out the investments across the nations and regions of the UK.
Scotland is a major focus for the Fund’s investment in the UK’s clean energy system. Investments to date are supporting, or creating, around 10,000 jobs across Scotland, backing projects in the renewable energy system and wider economy.
An £800 million guarantee is supporting four major transmission upgrades across the north of the country.
A £43.5m investment in Pulpex is helping to deliver the world’s first commercial-scale fibre bottle manufacturing facility near Glasgow.
In Edinburgh, a £38.4m loan is supporting infrastructure for the first phase of Granton Waterfront, one of Scotland’s largest brownfield regeneration projects. The first phase will deliver 847 energy-efficient homes and create or support 270 jobs.
Oliver Holbourn, CEO of the National Wealth Fund, said: “We have committed more than a quarter of our capital to Scottish projects, reflecting both the scale of the country’s economic opportunities and its central role in unlocking the UK’s future.
“From wind power and grid infrastructure in northern Scotland, to AI-ready data centres in North Lanarkshire, we are backing Scotland, creating new investment, good jobs and long-term growth.”
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