Ocean Winds Enters Lease Agreement with Crown Estate for 1.5 GW Celtic Sea Floating Wind Project

Ocean Winds has entered into an agreement for lease with the Crown Estate for a 1.5 GW floating offshore wind project, for which the developer secured a site in the Round 5 seabed auction last year.

Offshore Wind Leasing Round 5, the UK’s first dedicated floating wind seabed leasing round, was launched in February 2024, offering three areas. In June 2025, the Crown Estate announced Equinor and Gwynt Glas, a joint venture between EDF and ESB, as preferred developers for two project sites and said it was working to ensure the delivery of the full potential capacity of Round 5, which is up to 4.5 GW.

Equinor and Gwynt Glas entered into lease agreements for their floating wind projects in October 2025 and, the following month, the Crown Estate said Ocean Winds had secured the third floating offshore wind site in the Celtic Sea.

With the lease agreement now signed, Ocean Winds will focus on developing its project designs, delivering onshore and offshore site surveys, Environmental Impact Assessment (EIA), public engagement and securing planning consents, according to the Crown Estate.

Once these initial requirements have been completed, the developer can apply to obtain a lease from the Crown Estate to build and operate the wind farm, which could be operational by the mid-2030s.

“Signing the Agreement for Lease for the Celtic Sea site demonstrates our commitment to the development of commercial scale floating offshore wind in the UK”, said Adam Morrison, UK Country Manager at Ocean Winds.

“Over the coming years we will begin early-stage development work, engaging with local stakeholders to identify opportunities to deliver lasting benefits to our local communities whilst supporting the UK’s energy security and net zero objectives.”

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