On 27 August 2026, NatWest Group CEO of C&I, Robert Begbie, visited North Star’s Aberdeen headquarters, where he welcomed the agreement of a £275 million lending deal to support the offshore service operator’s future expansion.
North Star is a leading offshore infrastructure support vessel operator, founded in 1886, serving the UK and European energy markets, with a focus on the North Sea. Having served the oil and gas industry for many decades, they are also now a major service operator to the offshore wind sector.
Working alongside a group of lenders, the Royal Bank of Scotland provided a tailored funding solution, informed by its long-standing relationship with North Star, to enable the business to purchase four additional specialist service operation vessels. These new vessels strengthen North Star’s sector leading position, through operating the largest wholly UK-owned offshore fleet of 50 vessels.
The vessels will be used to enable technicians to access, maintain and operate offshore wind farms and deliver round-the clock emergency response for offshore oil and gas installations. North Star is a key operator in the UK North Sea emergency response market and its vessels have saved more than 200 lives.
The funding solution will also support the company’s strategic ambitions and long-term investment plans. This will be critical for future growth as demand for offshore wind infrastructure services continues to develop across the UK and Europe.
This funding contributes towards the wider NatWest Group target to deliver £200 billion of financing in climate and transition finance by the end of 2030.
Robert Begbie, CEO Commercial and Institutional, NatWest Group said: “The Royal Bank of Scotland is proud to support North Star, who are a fantastic example of the continuing strength and opportunity in Scotland’s offshore energy sector.
“As we look towards unlocking the potential of our energy transition, companies like North Star have an essential part to play in ensuring that the right services and infrastructure are in place to support that expansion.
“This deal is part of our UK-wide commitment of £200 billion to climate and transition finance by the end of 2030.”
Ramin Mathieson, Infrastructure and Project Finance, NatWest Group, said: “North Star has built an impressive reputation as a trusted provider of offshore infrastructure services and is playing an increasingly important role in supporting the offshore wind market.
“This transaction demonstrates our ability to deliver tailored financing solutions for businesses operating at the forefront of the energy sector, while supporting clients with their long-term growth ambitions through deep sector expertise and relationship-led banking.”
Fraser Dobbie, CFO, North Star, said: “This transaction provides a strong platform from which to continue our growth journey. It strengthens our financial flexibility and supports our ability to invest in the vessels, people and capabilities needed to meet increasing demand from offshore wind customers.
“We’re pleased to have the continued support of Royal Bank of Scotland and the wider banking group as we help deliver critical services to the offshore energy sector.”
Image 1 of Robert’s visit (4.5 MB, JPEG)
Image 2 of Robert's visit (5 MB, JPEG)
