Green light for £350m Sumitomo project to meet rising offshore wind demand
A funding package has been agreed to secure an estimated £350 million in inward investment for a major energy industry expansion in the Highlands.
Sumitomo Electric UK Power Cables Ltd (SEUK), a subsidiary of Japanese company Sumitomo Electric Industries Ltd (SEI) is planning to establish major operations in the region, supplying high voltage cables to the growing offshore wind energy sector.
The Scottish Government, Highlands and Islands Enterprise (HIE) and Scottish Enterprise (SE) have approved up to £24.5m in public sector support to secure the project. This comprises £19.37m in Scottish Government funding, £4.6m from HIE and £0.53m from SE.
The project includes plant and equipment investment, construction of a new purpose-built factory, and long-term land leasing and associated costs.
It will stimulate significant economic activity across industry supply chains at regional, Scotland and UK levels.
This includes creating around 330 jobs in Scotland over the next ten years, 265 of which will be in the Highlands and Islands including 156 well paid manufacturing jobs on site.