The Pentland Floating Offshore Wind Farm in Scotland has secured support from the National Wealth Fund (NWF), Great British Energy (GBE) and the Scottish National Investment Bank, which have taken initial shareholdings and each hold an option to invest up to £50m. The deal is intended to advance the UK's clean energy ambitions, strengthen energy security and support jobs.

Located off the coast of Dounreay, the project is being developed by Highland Wind Limited and is majority owned by funds managed by Copenhagen Infrastructure Partners P/S (CIP). Once operational, Pentland is expected to generate enough renewable electricity to power up to 70,000 homes and support more than 1,000 jobs across construction and operations, while deploying innovative technologies to accelerate the industrialisation of floating offshore wind (FLOW).

The co-investment underscores how public finance institutions can work together to back early‑stage technologies and crowd in private capital in line with the government's growth and clean energy missions. It also signals confidence in the UK's FLOW sector, encouraging engineering firms, particularly in Scotland, to pivot from oil and gas and compete in a growing global market. Scotland's offshore wind potential has been estimated at 40GW, with floating projects accounting for around 60% of the pipeline.

Nischal Agarwal, Partner in CIP, said: "Copenhagen Infrastructure Partners (CIP) is committed to playing a full role in helping to deliver the UK Government's Clean Power 2030 vision, and we are delighted to welcome NWF, GBE and the Bank as new partners to our Pentland Floating Offshore Wind project. FLOW holds significant potential to innovate, reduce its technology costs, and establish a world leading UK supply chain capable of enabling scale-able low carbon power generation to meet future growth in electricity demand.

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Mark Munro, Chief Investment Officer at the Bank, said: "The offshore wind potential in Scotland is considerable both as a source of energy and, particularly with floating, to export our supply chain. However, substantial investment is needed to capitalise on the opportunity and ensure it delivers transformational impact for our economy and our communities. The Bank has developed significant expertise in Scotland's burgeoning offshore wind sector and has invested in all areas of the supply chain. Our commitment of up to £50m to support the Pentland Project is an important step toward developing a thriving and sustainable economy."

Dan McGrail, CEO of Great British Energy, said: "This is just the beginning of our investment strategy and will help bring good, skilled jobs to the Scottish Highlands.

"I am pleased to work with the National Wealth Fund, the Scottish National Investment Bank and the Copenhagen Infrastructure Partners on this project - this sets out our aspiration to become the UK government's energy developer.

"It also reflects GBE's ambition, capability, and commitment to making the UK a clean energy superpower."

Ian Brown, National Wealth Fund Head of Banking and Investments, said: "Increased and sustained investment in offshore wind is crucial to the clean energy transition and key to bolstering the UK's energy security. It is essential for the public and private sector to work together to achieve this. Our investment in the Pentland wind farm is a perfect example of that collaborative approach.

"Working with Great British Energy and the Bank, we are building on the more than £240m we have so far invested in offshore wind port and supply chain infrastructure to support CIP in the development of a key project which will help to deliver clean energy, high quality jobs and economic growth to the UK."

Chancellor of the Exchequer, Rachel Reeves, said: "Bolstering our energy security to lower people's bills is key for boosting living standards and growing an economy that works for, and rewards working people.

"This initial investment will help cement Scotland as a homegrown, clean energy powerhouse, powering tens of thousands of homes and supporting over a thousand good jobs."

Energy Minister, Michael Shanks, said: "Great British Energy is owned by the British people and on a mission to take back control of our energy to protect households across the country, harness our abundant natural resources and deliver energy security and jobs.

"Floating offshore wind is a huge opportunity for the UK, and this first stake in a project by Great British Energy helps put us at the forefront of this cutting-edge technology.

"We said GBE would build up supply chains, create jobs and drive investment to all parts of the UK - especially in Scotland and this investment shows our publicly owned energy champion is getting on with the job."

Deputy First Minister Kate Forbes said: "This investment means the Scottish National Investment Bank can work closely with the developer to support the Scottish supply chain, enhance innovation and boost job opportunities.

"We are leading the way in the floating wind sector but are ambitious to go further and take full advantage of the economic opportunities Scotland's natural resources and technical expertise provide.

"That is why we are investing up to £500 million over five years in the infrastructure and manufacturing facilities critical to growing the offshore wind sector, which is expected to leverage additional private investment of £1.5 billion."