Yesterday, the Scottish National Investment Bank announced a welcome £20 million investment into XLCC, the company that is developing the United Kingdom’s first high-voltage direct current cable manufacturing facility, at Hunterston in my constituency. That £1.4 billion-plus project will create 900 highly skilled jobs and will position Scotland as a global leader in HVDC technology. Does the First Minister agree that that is a first-class opportunity for Scotland to help to drive net zero innovation? What will his Government do to ensure that that project and similar projects secure the support needed to thrive?

I very much welcome the announcement that has been made by XLCC in relation to the facility at Hunterston. That is an example of exactly what we envisaged with the Scottish National Investment Bank—that it would provide the opportunity for investment through that mechanism to support private sector investment and leverage much more significant volumes of private sector investment into the Scottish economy. The funding model is working, which helps us in taking forward our net zero ambitions.

I am delighted that Mr Gibson’s constituency has benefited in the way that he has recounted to Parliament. It is important from the Government’s point of view that the Scottish National Investment Bank is actively engaged in supporting investments as part of our transition to net zero.