Mitsui takes over Scottish wind port
Mitsui and MOL Acquire Scotland's Port of Nigg
Japanese trading company Mitsui & Co and shipping giant Mitsui OSK Lines (MOL) have announced a significant acquisition of Scotland’s Port of Nigg, a key energy industry hub. The deal, struck with Global Energy Group (GEG), includes vital fabrication and access business units, marking a strategic move into the UK’s offshore energy sector. Mitsui will hold a 51% stake while MOL will maintain 49% in the acquired entities.
Strategic Investment for Energy Transition
The acquisition encompasses the deepwater, multi-sector Port of Nigg and two major business operations: Global Energy (Fabrication) and Global Energy Services. Global Energy (Fabrication) is a multi-site fabrication and manufacturing entity, while Global Energy Services focuses on scaffold and access operations that support offshore projects. This partnership builds on Mitsui’s previous investment in GEG, where it held a 25.5% stake since 2012.
Since GEG took over the Port of Nigg in 2011, over £120 million has been invested in its redevelopment. This investment has positioned the port as a central hub in the UK’s offshore wind supply chain, facilitating major contracts for prominent projects like Beatrice, Moray East, Seagreen, and Moray West wind farms. The companies aim to enhance manufacturing capacity and energy services infrastructure at the port, fostering long-term job creation and economic growth in the Highlands, particularly in the offshore oil, gas, and wind sectors.
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GEG Chairman Roy MacGregor emphasized that this transfer would enable Nigg to enter a new growth phase while ensuring continued support from GEG subsidiaries, including Global Port Services and Global Wind Projects. GEG will maintain its active presence at the port, providing essential project labor and operational support.
A Commitment to Sustainable Development
This acquisition marks Mitsui’s first significant investment in a Scottish port, with the goal of transforming Nigg into a pivotal location for the UK’s energy transition. With MOL’s extensive expertise in shipping logistics and offshore energy, the partnership aims to enhance the port’s capabilities in supporting offshore wind, fabrication, and other industrial services.
Makoto Takasugi of Mitsui expressed the company’s commitment to viewing Nigg as a long-term energy infrastructure asset. He stated, “We look forward to carrying forward that legacy, working with the skilled local teams as we grow our role in energy transformation across Scotland, the UK, and Europe.” MOL’s managing executive officer, Masayuki Sugiyama, echoed this sentiment, highlighting the port’s critical role in the UK’s energy transition and its potential for future growth. Together, they are dedicated to leveraging their expertise to contribute to the sustainable development of the Highlands.
