Highland Wealth Fund to create lasting legacy from renewable energy development

26th June 2026

The Highland Council has agreed plans to establish a Highland Wealth Fund to create a lasting legacy from renewable energy development and support long-term benefits for communities across the region.

Inspired by the principles of the Norwegian Sovereign Wealth Fund, the new partnership-led fund will support strategic, regional, area and local priority projects, helping to ensure that the opportunities created by the energy transition deliver lasting value for current and future generations.

The fund will invest in key priorities identified through the Invest Highland website and prospectus, launched in December 2025, including:

Housing - building new homes, retrofit projects and provision for key workers

Connecting people and places - transport improvements, investment in roads and bridges and improved digital access

Jobs and skills - creating training, apprenticeships and local employment opportunities

Reducing inequalities - supporting community projects that specifically address poverty and social isolation

Community infrastructure - improving local facilities and services

Environment and biodiversity - supporting climate adaptation and nature restoration projects including flood defence schemes

It builds on the foundations laid by the Highland Social Value Charter, a nine-point framework agreed by the Council and Highland Community Planning Partnership in June 2024, to ensure consented renewable energy and green infrastructure developments generate lasting value for communities.

The fund will provide a partnership-led strategic investment vehicle for directing strategic contributions secured through the Charter, alongside other public and private sector investment, helping to ensure benefits from energy developments are shared more widely across the Highlands.

As part of the Charter, Glen Errach Energy has already committed to allocating 20 per cent of its own Community Wealth Fund valued at £20 million per year, to support strategic Highland-wide projects.

Convener of the Highland Council, Councillor Bill Lobban said: “The Highland Wealth Fund will help ensure that the benefits of renewable energy development are shared more fairly across our communities. It provides a clear way to invest in housing, infrastructure, jobs and community projects that will make a lasting difference across the Highlands. The Council will continue working with the Scottish and UK Governments to seek stronger, more consistent arrangements to ensure communities benefit from investment in energy projects.”

A new Partnership Board will oversee the Highland Wealth Fund. This will include representatives from communities, public sector organisations and developers, alongside Highland councillors who will make up one third of the Board membership.

The Council will act as the accountable body, meaning it will:

administer the fund

ensure money is spent appropriately

approve investment decisions and annual delivery plans

ensure funding proposals align to agreed priorities

An annual delivery plan will set out which projects are supported each year, and the governance arrangements will be reviewed regularly to ensure the fund continues to meet local needs.

Following the decisions made at a meeting of the Highland Council today (Thursday 25 June) work will now continue to:

finalise governance arrangements for the fund

engage with developers and partners

develop the first annual delivery plan

bring forward projects for investment

The report presented to the meeting of The Highland Council is available to view on the website

 

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