£3bn jobs boom as floating wind scheme off Peterhead gets green light


ONE of the world’s largest floating windfarms will be built off the coast of Aberdeenshire after the project was given the green light by the Scottish Government.

Green Volt – a 50-50 joint venture between Aberdeen-based Flotation Energy and Norwegian firm Vårgrønn – is Europe’s first commercial-scale floating windfarm.

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The project is set to create hundreds of green jobs in the North-east and will unlock up to £3billion worth of investment, according to Sir Ian Wood, who has hailed the approval as a ‘massive boost’ for the region.

Once completed, Green Volt will include up to 35 floating wind turbines off the coast of Peterhead, generating up to 560 MW of renewable energy.

As part of Crown Estate Scotland’s Innovation and Targeted Oil & Gas (INTOG) leasing round, the project will also deliver renewable electricity to oil and gas platforms, replacing existing natural gas and diesel power generation. Green Volt will also provide electricity to the UK grid.

Nicol Stephen, CEO at Flotation Energy, said: “It is fantastic to have received the green light to deliver the world’s biggest floating offshore wind project, right here in the Scottish North Sea.

“This major milestone places Flotation Energy and our Joint Venture Partner, Vårgrønn, firmly at the heart of the energy transition.

“Gaining consent just over a year after our seabed exclusivity was awarded is a testament to the commitment, speed and determination of our Green Volt team, the Scottish Government and its key agencies.

“Green Volt is of international significance, placing Scotland at the leading edge of a new floating wind sector. This multi-billion pound development can now move forward confidently, creating hundreds of local jobs and proving that the UK and Scottish supply chain is ready to deliver commercial scale floating projects, at pace.

“Flotation Energy is headquartered in Scotland with its roots firmly in Aberdeen and the North-east. We are already drawing on the world class energy skills and experience of the region – and now look forward to doing far more.”

Olav Hetland, CEO at Vårgrønn, said: “With Green Volt being Europe’s first commercial-scale floating wind project, achieving offshore consent for the project marks an important moment for the whole offshore wind industry. At 560 MW, Green Volt serves as an essential stepping stone from current small-scale projects to gigawatt-size developments, supporting the supply chain in scaling up new technology.

“Floating wind is set to be a huge global market in the decades to come. By being a frontrunner, Scotland is now positioned to be home to world-leading expertise and a whole industry of new jobs. Green Volt will deploy pioneering technology at an unprecedented scale, advancing what is possible in renewable energy.”

The project has been welcomed by Sir Ian Wood, who believes it will unlock substantial investment for the region.

“The awarding of consent for the Green Volt INTOG project is a massive boost for Scotland’s ambition to be a global leader in floating offshore wind,” he said.

“This decision will unlock around £3billion of investment, generate hundreds of jobs and will effectively result in Europe’s first commercial scale floating wind development. Crucially, it also sends a huge signal to domestic and international investors that Scotland is indeed a pioneer in this technology and the ideal location to manufacture and deliver floating wind developments.

“This announcement is particularly positive for the North-east given Flotation Energy, the co-developers of Green Volt, have a strong presence in Aberdeen and are actively exploring supply chain contracts for the development of this project benefitting companies with existing operations in the city.

“I pay tribute to the Scottish Government and its agencies for taking this welcome decision which follows the opening of the world’s first Floating Wind Innovation Centre in Aberdeen by the First Minister last month.

“With one of the largest concentrations of subsea engineering capabilities anywhere in the world and the largest cluster of energy supply chain companies anywhere in the UK, there truly is no better location than the North East of Scotland to invest in low carbon technologies.”

First Minister Humza Yousaf also welcomed the news, adding: “It is great news that we have consented the first project in the Crown Estate Scotland’s Innovation and Targeted Oil and Gas (INTOG) leasing round – this is a significant milestone which will help secure Scotland’s place at the forefront of floating wind technology.

“Scotland is one of the best places in the world to develop offshore wind and its supply chain, and we are determined to maximise the huge economic opportunity offshore wind can bring.”

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