- Mitsui and MOL will jointly acquire and manage the Port of Nigg, expanding its role as a North Sea hub for offshore wind, advanced manufacturing, and low-carbon port operations.
- The development will create local jobs, support UK net-zero goals, and strengthen renewable energy supply chains by upgrading facilities and integrating port services.
Mitsui & Co., Ltd., together with Mitsui O.S.K. Lines, Ltd. (MOL), announced plans to acquire the Port of Nigg in northeast Scotland through Mitsui & Co. Europe Ltd., aiming to turn the site into a hub for offshore wind while sustaining its role in oil and gas.
The partners will manage the port and its steel processing and manufacturing assets through Global Energy Service Holding Limited (GESH), headquartered in Inverness. Mitsui will hold 51% of GESH and MOL 49%. At the same time, Mitsui will sell its interests in GEG’s remaining businesses back to the founder.
Meanwhile, the Port of Nigg anchors the world’s largest offshore wind development zone on Scotland’s North Sea coast. Mitsui will apply its global industrial network and UK investment experience. MOL will use its maritime and port operations expertise to expand fabrication, streamline supply chains, and upgrade port services.
The UK government relies on renewable-ready infrastructure to secure energy supplies and meet its 2050 net-zero goal. By expanding Nigg’s facilities, Mitsui and MOL will remove bottlenecks in offshore wind projects, cut logistics emissions through localised manufacturing, and decarbonise port operations by electrifying equipment, introducing shore power, and optimising vessel calls.
“While decarbonisation may seem to be slowing, the initiatives themselves are irreversible,” said Tetsuya Shigeta, Mitsui’s Representative Director, Executive Vice President and CFO. “If wind power slows, we can maintain business viability by serving other industries.”
Furthermore, GESH, which began operations on February 7, 2024, under CEO Yoshihiro Hayakawa, employs 248 people and is driving the transformation of the Port of Nigg into a North Sea hub. The initiative will also create jobs in the Highlands, help oil and gas workers shift into offshore wind and advanced manufacturing, and strengthen the local skills base through training partnerships.
In addition, Mitsui and MOL plan to complete the acquisition in summer 2025 and then integrate port operations with manufacturing. They will measure success through increased offshore wind capacity supported at the port, faster and more cost-efficient project delivery, reduced Scope 1 and 2 emissions, and stronger job performance, training, and safety performance.
Through this acquisition, Mitsui and MOL will reinforce UK energy security, accelerate net zero progress, and deliver long-term community benefits in a competitive low-carbon supply chain.