Fred Olsen Seawind will assume 100% ownership of the Muir Mhòr floating offshore wind project off Scotland by acquiring Vattenfall’s 50% stake.
The transaction is subject to regulatory approvals, Fred Olsen Seawind said.
Muir Mhòr was awarded seabed rights in 2022 under the ScotWind leasing round and is located around 63km off the Aberdeenshire coast near Peterhead, the company added.
The project is targeting an early allocation round and aims to start generating power in the early 2030s.
“Fred Olsen Seawind is excited about taking full ownership of Muir Mhòr and continuing to drive the project through its next milestones,” said Maren S. Lundby, chief executive of Fred Olsen Seawind.
“We have built an excellent team and are working together with the Scottish Government and National Energy System Operator (NESO) to secure our offshore consent and accelerated grid date.”
“I want to thank Vattenfall for their collaborative approach and support.”
“Floating offshore wind has the potential to kickstart a new global industry and, as part of Bonheur ASA, Fred Olsen Seawind will leverage the related companies’ expertise to complete the development process and advance toward construction and generation.”