Ocean Winds and Aker Offshore Wind unveils £235m ScotWind investment package

Ocean Winds and Aker Offshore Wind have unveiled a £235 million early investment package included within their bids to the Crown Estate's ScotWind offshore wind leasing round.  

According to the two companies, the early investment package of £235 million for every successful bid could 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 industrialisation of new technology.

Aker Offshore Wind and Ocean Winds has submitted proposals for up to three sites in the Outer Moray Firth with the possibility of generating a combined 6 GW of wind energy in total as part of the ScotWind leasing programme, with associated total spend of up to £15 billion for all three sites.

The two companies claims that through direct work and supply chain opportunities, each proposal is estimated to generate more than 5,000 jobs and 200 apprenticeships in Scotland across all project stages.

More than 30 Memorandums of Understanding (MoUs) are now in place across the supply chain in support of the bids and the early action needed. 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.

The £235 million of early enabling investment also includes feasibility, benchmark, and implementation studies with selected fabricators seeking to establish or upgrade facilities in Scotland, leveraging Scottish supply chain’s competitive advantages through innovation, workforce development, diversity, and skills transition initiatives, and capital investment costs for Scottish infrastructure facilities.

A 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 our early investment process.

Separately, Aker Offshore Wind is a partner in a project to develop wind turbine blade recycling in Britain for the first time, backed by a £2 million UK government grant.

“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.

“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.”