Mainstream and Ocean Winds sign seabed lease agreement for 1.8 GW floating offshore wind ScotWind site

Mainstream Renewable Power and Ocean Winds have signed the seabed lease agreement with Crown Estate Scotland to the value of £36 million for the development of a 1.8 GW floating offshore wind farm off Shetland.
Mainstream and Ocean Winds sign seabed lease agreement for 1.8 GW floating offshore wind ScotWind site
Courtesy of Mainstream Renewable Power.

With secured development rights, Mainstream and Ocean Winds have named the project Arven Offshore Wind Farm. The companies were appointed preferred bidder by Crown Estate Scotland during the ScotWind clearing process in August 2022.

As the Norwegian word for heritage or legacy, Arven provides a link to the proud Norse history of the Shetland Islands and to the legacy which both partners plan to create on site.

With a 50-50 ownership, both Mainstream and Ocean Winds are committed to developing floating offshore wind on an industrial scale, generating local jobs and opportunities in Scotland and the Shetland Islands.

The site output has the potential to power the equivalent of over 2million homes and save 3million tonnes of carbon emissions each year.

“We are thrilled to progress our plans for the Arven Offshore Wind Farm and, building on Mainstream’s Scottish development experience and the Aker group’s decades long offshore heritage in the North Sea, we are ready to take a leading role in industrialising floating offshore wind” said Sian Lloyd-Rees, UK Country Manager for Mainstream Renewable Power. “Supporting the UK government’s Net Zero ambitions, the wind farm is well placed to capitalise on Scotland’s offshore expertise and industry as we work with local partners to explore offtake opportunities.”

Mainstream has already partnered with Ocean Winds in the joint venture KF Wind in South Korea and is in a consortium to bid in the upcoming leasing round for floating wind at Utsira Nord in Norway. The two companies are also also major shareholders in leading floating wind technology provider Principle Power.

With a proven foundation of delivery of projects, including Moray East, the largest offshore wind farm in Scotland, together with pioneering floating projects such as WindFloat Atlantic in Portugal, Ocean Winds is well placed to take advantage of this opportunity to support the growth of the floating wind sector in Scotland.

Ocean Winds is currently operating, building and developing three offshore wind projects in Scotland - Moray East – 950 MW, Moray West – 882 MW and Caledonia – up to 2 GW.

With this award, Ocean Winds now has a total portfolio of 6.1 GW in Scotland.

For additional information:

Mainstream Renewable Power

Ocean Winds

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