Breakthrough success for Green Volt floating windfarm in renewable power auction

Photo:  Dogger Bank Windfarm Ltd.

— Award puts Green Volt on track to become world’s largest floating offshore windfarm with government contract —

— Floating offshore wind can take turbines further offshore into higher windspeed areas —

 

03 September 2024: Leading offshore wind developers Flotation Energy and Vårgrønn today announce that their pioneering floating offshore wind project, Green Volt, has been successful in winning a UK Government Contract for Difference.

Green Volt is a hugely exciting project that will not only supply clean power to the grid, but also help the oil and gas industry meet its goal of halving emissions by 2030.

Stephen Bull, CEO of Vårgrønn, said: “This award is a clear vote of confidence from the UK Government in our plans to build Europe’s first commercial scale floating offshore wind farm. It is fantastic news for both our project and the wider floating offshore wind sector. Green Volt will stimulate investment in new port infrastructure, helping accelerate the development of more floating windfarms. We look forward to expanding our dialogue with the supply industry.”

Nicol Stephen, CEO of Flotation Energy, added: “Scotland is already a global pioneer in floating wind. This funding will kickstart the next phase of Europe’s largest floating wind project 80 km off the coast of Northeast Scotland. Green Volt is a huge £2.5 billion project. It will create over 2,800 jobs during construction. Once operational, the floating offshore windfarm will supply clean power to the UK grid, while also supplying renewable electricity to nearby oil and gas platforms.”

The Government aims to reach 5GW of floating offshore wind by 2030 and today’s news is a really important step towards this target.

To find out more about the Green Volt floating offshore windfarm, please visit: https://greenvoltoffshorewind.com/

The award of CfD and entering next stage of development of Green Volt marks a key milestone for Vårgrønn as a company. It is the first floating wind project to be taken from early stage towards construction in the company’s portfolio. This entails important supply chain cooperation to address the pioneering technology in the project, and important growth in Vårgrønn’s organization and competence advance.