Renewable developers team up for offshore wind leasing bid

Vattenfall and Fred Olsen Renewables have formed a 50:50 joint venture to bid in the ScotWind offshore wind leasing round.

Crown Estate Scotland is awarding option agreements for the lease of up to 8,600 square kilometres of seabed. The deadline for registrations is 16 July 2021.

Helene Bistrom, head of business area wind at Vattenfall, said: “This joint venture brings together two companies with strong track records in Scotland. We fundamentally understand the importance of developing projects which benefit the local economy and environment while ensuring the best possible value for bill payers.

“Vattenfall’s goal is to enable fossil-free living within one generation, and we are very excited to be working with Fred Olsen Renewables to bring the best of our experience together to create a strong offer for Scotland.”

Fred Olsen is a subsidiary of Bonheur ASA, whose managing director Anette Olsen said: “30 years ago, our journey in renewables started in Scotland. Today, Fred Olsen related companies employ more than 350 people in Scotland.

“Our focus has always been to create local value, and together with Vattenfall we are confident that we can build on our joint presence in Scotland and deliver offshore wind with considerable local benefits.

“We are very pleased with this partnership, which builds on long standing relations between Vattenfall and Fred Olsen-related companies. Through our partnership we will provide opportunities and create maximum value for the Scottish economy, local suppliers and communities.”

Crown Estate Scotland recently hiked the option fees for ScotWind in response to the high prices seen in the Crown Estate’s fourth offshore wind leasing round, which was the first to use a competitive bidding process to determine the fees.