Execution, not good intentions: realising the value of energy transition
Arrival of the first Inch Cape Offshore Wind Farm XXL monopiles into Leith, October 2025
Stuart Wallace, Chief Executive Officer
| Forth Ports
Ports power Britain’s energy transition – but only execution, not ambition, will secure jobs, investment and growth.
The UK’s ports are gateways to our economic future. Across the Forth, Tay and Thames estuaries, Forth Ports is driving the transformation of the country’s energy and industrial landscape – powering offshore renewables, flexing complex supply chains, supporting defence logistics and anchoring industrial clusters that sustain high-value jobs.
But the energy transition faces challenges. Oil and gas activity has declined rapidly, while progress with offshore wind has been slower than expected. With the UK Autumn Budget approaching, the country’s energy future depends on fiscal stability and competitive taxation. Reforming the Energy Profits Levy is essential to protect jobs, support UK supply chains and unlock the investment needed to accelerate renewables and sustain the North Sea’s industrial base.
A successful transition from oil and gas to renewables means moving from vision statements to delivery on the ground (and the seabed). A just transition must carry forward with it the people, skills and capital from the North Sea and petrochemical sectors into the industries of the future. A cliff edge would drive them away for good. Aligning policy, finance and skills development will ensure decarbonisation projects are not only ambitious but achievable.
The UK Government’s recognition of how high energy prices are affecting manufacturing is welcome and recent cut to electricity prices sends the right signal. However, for the petrochemical sector to remain competitive, energy and feedstock pricing – particularly for gas – must stay in focus as the Modern Industrial Strategy moves into its delivery phase.
Forth Ports is already delivering. We underpin the UK’s trading position and supply chain resilience. We support the Ministry of Defence and pump-prime inward investment through major infrastructure projects such as the Industrial Strategy Zones at the Forth Green Freeport and Thames Freeport. Our current £500 million investment programme spans new renewables and logistics terminals, mixed-use developments, multi-modal transport and low-carbon fleet expansion – creating opportunities for engineers, mariners, graduates and apprentices, and providing the delivery platform for multi-billion pound development. Ports are foundational industries and gateways to economic growth.
Policy clarity unlocks capital. Long-term, stable signals give investors the confidence to commit to the UK’s net zero ambitions. Timely decisions – particularly in licensing and planning – and adaption to modern frameworks are essential to progress investments across ports, energy and transmission. Timing for decision-making must be measured in weeks or months, not years. For example, grid capacity is growth capacity – if grid investment lags generation build-out, the UK risks having power without progress. Without accelerated grid investment, the UK will suffer from that power without progress.
Ports are more than the interface between land and sea; they are where the UK’s industrial future meets global opportunity. With clear policy, investment in infrastructure and people and a relentless focus on execution by governments and agencies, the British Isles can deliver a just and lasting energy transition. A focus on execution will keep the nation competitive, connected and confident for decades to come.
