Great British Energy, the National Wealth Fund (NWF) and the Scottish National Investment Bank (SNIB) have secured minority stakes in Copenhagen Infrastructure Partners’ (CIP) proposed Pentland floating wind project off the coast of Scotland, the organisations said.
Each of the new shareholders will have the option to invest up to £50 million in the 100-MW test and demonstration scheme as it moves through development and construction milestones. The fully consented six-turbine project is eligible for Allocation Round 7 this year and has a planned grid connection date from the end of October 2027.
Great British Energy said the investment — its first equity stake in an offshore wind project — shows how public institutions can support early-stage technologies and contribute to the UK government’s growth and clean energy objectives. The organisation said the move signals confidence in the UK’s emerging floating wind sector and could encourage engineering firms to transition from oil and gas.
Dan McGrail, chief executive of Great British Energy, said the investment marks the start of a broader strategy. “This is just the beginning of our investment strategy and will help bring good, skilled jobs to the Scottish Highlands,” he said. He added: “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.”
Energy Minister Michael Shanks said the stake aligns with government plans to strengthen energy security. “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,” he said. Floating wind, he added, represents “a huge opportunity for the UK”.
CIP partner Nischal Agarwal said the new shareholders will support the sector’s long-term development. “Floating wind 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,” he said.
