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Mainstream and Ocean Winds ink lease agreement for Shetland project

By: Tom Russell 02/11/2022 Ocean Winds

General Windfarms

Mainstream Renewable Power (Mainstream) 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 the Shetland Islands in Scotland. Mainstream and Ocean Winds were appointed preferred bidder by Crown Estate Scotland during the ScotWind clearing process in August 2022.

With secured development rights, Mainstream and Ocean Winds have named the project Arven Offshore Wind Farm. 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 2 million homes and save 3 million tons of carbon emissions each year.

Commenting, Sian Lloyd-Rees, UK Country Manager, for Mainstream Renewable Power, said: “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. 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.”

Commenting, Adam Morrison, Country Manager for Ocean Winds in the UK, said: “Our team at Ocean Winds are delighted that we are further strengthening our position in Scotland with these new projects, which build on our delivery experience here in Scotland, as well as internationally. We are excited to be advancing the development of commercial scale floating wind farms off Scotland and delivering significant new volumes of clean energy for the country to meet its energy transition objectives.

We look forward to listening to the many stakeholders who will have an interest in these projects as we start the development process to realise the potential of these projects. Developing a robust route-to-market to underpin future investment will be an early focus."

Mainstream, through its recent combination with Aker Offshore Wind, is currently developing project opportunities for fixed and floating wind in markets such as Norway, Sweden, Japan, South Korea, Vietnam, Ireland, the UK and the US, while exploring opportunities in new markets. The company 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. Mainstream and Ocean Winds are also major shareholders in the leading floating wind technology provider Principle Power.

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 more information on offshore wind farms worldwide, click here.

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Mainstream and Ocean Winds ink lease agreement for Shetland project

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