New Players Target 5.4 GW of Wind Capacity Offshore Scotland

Invenergy and floating production specialist BW Offshore have formed a joint venture to develop up to 5.4 gigawatts of offshore wind as part of the first ScotWind leasing round in Scotland.

The joint venture will focus on developing both floating and fixed foundation offshore wind projects off the Northeast Coast of Scotland, with the projects expected to bring billions of pounds of investment to the Scottish and UK supply chain, the companies said.

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The projects are also expected to create substantial high-value specialised jobs, both direct and indirect, within Scotland.

Invenergy and BW Offshore said the companies are experienced in delivering multi-gigawatt, multi-billion-dollar energy projects, from inception to operation, with a focus on utilising local supply chains and growing locally-based project teams.

Invenergy develops, owns and operates large-scale renewables and other clean energy generation and storage facilities worldwide. The company has developed more than 180 projects across four continents totaling more than 29 gigawatts in capacity and supported by more than USD 43 billion in arranged financing for its portfolio of projects.

Bryan Schueler, Invenergy’s Senior Executive Vice President and & Construction Business Leader, said: “We are uniquely positioned to deliver innovative offshore wind infrastructure to Scotland through leveraging Invenergy’s decades of experience, expertise in leading complex projects to completion and network of strategic supplier relationships such as with GE Renewable Energy. This joint venture represents an important milestone in furthering our partnership with BW Offshore and Invenergy’s continued investment in Scotland and its clean energy future.”

BW Offshore’s key competencies are offshore engineering, procurement, construction, and installation, as well as lease and operate services for Floating Production Storage and Offloading vessels (FPSOs). Over the past four decades, BW Offshore has completed 40 projects worldwide.

“Together, we represent a unique blend of expertise and ambition to deliver the next phase of energy transition in Scotland, bringing substantial international project development experience and a strong track record for local value creation,” Marco Beenen, CEO of BW Offshore, said.

”ScotWind will play a critical role in delivering the nation’s offshore wind targets and our ambition is to be a central part of this journey, committed to working with Scotland’s supply chain to accelerate the energy transition.”

Photo: Illustration; Photo source: The Carbon Trust