PLANS to create Scotland's first artificial surf park have been boosted by £26 million in funding from the Scottish National Investment Bank.
The Wavegarden Scotland project will see the disused Craigpark Quarry, near Edinburgh, sculpted into a watersports site "with surfing at its heart".
It will provide inland surfing throughout the year after its anticipated opening in 2024.
The project will involve the installation of underwater technology that can create 1000 waves per hour, from slow-moving white water for beginners through to powerful barrels up to two metres high for experts.
More than 100 jobs are expected to be created by the new "world-class" leisure destination, which will also include holiday lodges and a central hub building with a food court.
Bosses have said there will be close ties with local businesses during the construction phase and beyond to help maximise the local economic benefit.
Scottish National Investment Bank director Susan Campbell described the project as "exciting, innovative and ambitious".
She added: "The bank's backing will regenerate a derelict site, increase access to the natural environment, help to restore biodiversity, and stimulate tourism.
"Once complete, Wavegarden Scotland will provide a world-class outdoor facility for everyone to enjoy, enabling important health and well-being benefits as well as a nationally important leisure facility.
“The investment is a great example of the public and private sector collaborating successfully to unlock potential.”
Lender OakNorth Bank is supporting the construction of the new facility with a £25.2m loan.
Backing is also being provided by BAE Systems Pension Fund IM, which will purchase the park through a sale-and-lease-back arrangement once construction is complete.
Andy Hadden, founder of Tartan Leisure, the company behind the project, said: “Wavegarden Scotland will be a dynamic new leisure destination, whether you are in or out of the water.
“Having the backing of 45 local entrepreneurs and international shareholders, including Promenthean Investments LLP and Murray Capital, combined with the incredible support from the Scottish National Investment Bank, OakNorth and BAE Systems Pension Fund, has created what we believe, is the optimum financial structure for this landmark destination.”
