Vattenfall Selling Floating Wind Project Stake to Partner

Vattenfall will sell its stake in the Muir Mhòr floating offshore wind farm to its joint venture partner in the project, Fred. Olsen Seawind.

The deal is subject to approval by Crown Estate Scotland, which holds the seabed lease.

Muir Mhòr, located around 63 kilometres off Peterhead, secured seabed rights in the 2022 ScotWind round and received onshore consent in 2025. The project, which is awaiting offshore consent, is planned to have a capacity of up to 1 GW, with operations expected in the early 2030s.

The partners said the project will continue to progress as planned, pending remaining consents, with the revised ownership structure aimed at supporting its route to a future allocation round.

According to Vattenfall, the divestment decision reflects its portfolio priorities, with the company focusing on projects such as Nordlicht I and II in Germany and Zeevonk in the Netherlands, while continuing construction of the Clashindarroch II onshore wind farm in Scotland.

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