The Fund’s commitments have so far helped to drive a total of £6.6bn of public and private finance across Scotland. 

Investments to date are supporting or creating around 10,000 jobs, backing projects across Scotland’s renewable energy system and wider economy, from wind power in Orkney and major energy grid upgrades across northern Scotland, to AI infrastructure in North Lanarkshire, to major regeneration projects in Edinburgh. 

The figures, published today in the National Wealth Fund’s second Impact Report, set out the impact of its investments across the nations and regions of the UK. In total, the Fund has committed more than £10.9bn across 90 investments. 

Scotland is a major focus for the Fund’s investment in the UK’s clean energy system. An £800 million guarantee is supporting four major transmission upgrades across northern Scotland, helping to deliver an energy system fit for the UK’s future. 

The Fund is also investing in emerging industries and infrastructure north of the border, supporting Scotland’s future growth.

A £43.5m investment in Pulpex is helping to transform a promising packaging innovation into a commercial manufacturing business, supporting the business 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.”