The five storey office building will become the headquarters for the new Technology Strategy Board funded Offshore Renewable Energy Catapult.
This new catapult will focus on technologies applicable to offshore wind, tidal and wave power.
The building will also offer Grade A office space for companies in the renewable energy sector which will focus on developing and capitalising on the growing renewable energy sector.
The IEB is the latest development in the ITREZ, a global research and development hub which brings businesses and academia together to work collaboratively on the development of the offshore renewables sector.
ITREZ also includes the University of Strathclyde’s Technology Innovation Centre which is home to academics from the University’s four faculties; science, engineering, business and the social sciences.
Eddie Carr, area director for Morgan Sindall, said: “The Industry Engagement Building sets the precedent for Scotland’s flagship International Renewable Energy Zone which offers companies a perfect environment to harness cutting edge research.”