Ørsted says ScotWind success to trigger GBP-12bn investment

Offshore wind major Ørsted A/S (CPH:ORSTED) has submitted bids for five projects representing over 8.5 GW of capacity in Crown Estate Scotland’s ScotWind offshore wind leasing round.

If the proposals are successful, the Danish company said today it plans to invest up to GBP 12 billion (USD 16.4bn/EUR 14bn) directly with Scottish businesses in the development and construction of offshore wind farms in Scotland over the next 10 years.

Ørsted has submitted bids for two floating wind only projects as part of a partnership with BlueFloat Energy and Falck Renewables and three bids acting alone that include a mix of fixed and floating wind technologies.

It also intends to develop renewable hydrogen projects powered by part of the generation from the proposed offshore wind farms.

Duncan Clark, head of region UK for Ørsted, said the company will use its significant offshore wind experience to deliver projects by 2030, supporting the Scottish government’s goal of 11 GW of installed offshore wind by that year.

“Indeed, we’ve already started development works to ensure we hit the ground running - engaging with supply chain companies and with the offshore wind clusters,” Clark added. He describes the ScotWind leasing round as a pivotal moment for the development of the offshore wind sector in Scotland.

The ScotWind round closed to applications in July, attracting 74 proposals. It is set to enable up to 10 GW of new offshore wind farms to be built in a seabed area of 8,600 sq km (3,320 sq miles). Equinor, Royal Dutch Shell, Engie, Eni, Vattenfall and TotalEnergies are among the companies competing for leases.

(GBP 1 = USD 1.366/EUR 1.167)

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