ScotWind Bidder Pledges EUR 276 Million Early Investment for Every Successful Bid

Ocean Winds and Aker Offshore Wind have announced a GBP 235 million (approximately EUR 276 million) early investment package for every successful bid in the ScotWind leasing round to support the supply chain capabilities and the ‘just transition’ from fossil fuel industries.

The financial package is included in the joint bids Ocean Winds and Aker Offshore Wind submitted this Summer in Scotland’s seabed leasing round. The consortium has filed proposals for up to three sites in the Outer Moray Firth with the possibility of installing a total of 6 GW of floating wind capacity and with an associated total spend of up to GBP 15 billion (approx. EUR 17.6 billion) for all three sites.

More than 30 Memoranda of Understanding (MoUs) are now in place across the supply chain in support of the bids and the early action needed, the consortium said, noting that there is a commitment to 60 per cent local supply chain content from the UK, of which 40 per cent minimum content will come from Scotland.

Each proposal is estimated to generate more than 5,000 jobs and 200 apprenticeships in Scotland across all project stages. There would also be extensive investment in Scotland’s existing ports and harbours, as well as innovative new subsea technology, according to Aker Offshore Wind.

“The early investment package of £235 million for every successful bid would help deliver the ‘just transition’ from fossil fuel industries by generating thousands of new jobs and economic opportunities, as well as enabling Scotland to drive down the costs of clean energy through industrialization of new technology”, the company stated in press release.

The early enabling investment also includes feasibility, benchmark, and implementation studies with selected fabricators seeking to establish or upgrade facilities in Scotland, with an aim to deliver globally-competitive facilities in Scotland for the fabrication and assembly of floating platforms.

An immersive virtual reality design of a fabrication yard has already been developed in conjunction with the National Manufacturing Institute Scotland at the University of Strathclyde as part of the consortium’s early investment process.

To deliver the project, Aker Offshore Wind and Ocean Winds plan to use steel-based semi-submersible floating wind foundations (WindFloat) developed by Principle Power, in which Aker Offshore Wind holds a majority stake. According to Aker Offshore Wind, the consortium can move at speed to support the development of the Scottish supply chain because the technology to be used has already been identified and because WindFloat has already been in operation for over ten years with local fabrication as part of its delivery.

“Building on our 180-year industrial heritage, we know early investment is needed if we want Scottish capability to be built ahead of the project execution phase when globally competitive tenders are sought”, said Sian Lloyd-Rees, Managing Director of Aker Offshore Wind UK. “Scotland can be one of the first countries to develop floating wind at scale”.

“If we focus on what our supply chain needs and provide it now, we can capture first mover advantage for our supply chain in a number of different technologies and solutions. That’s why we are committed to an enabling investment fund of £235 million”, Sian Lloyd-Rees added. “A just transition requires we put the effort in early to work out what a healthy and growing supply chain needs. This is the cornerstone for the just transition ambition of Scotland and will ensure we deliver clean energy affordably”.