The Flotation Energy/Vargronn 560MW Green Volt floating wind farm is set to fly the flag for the floating sector at the UK government’s first International Investment Summit.
The Aberdeen-based scheme is set to unlock £2.5bn of private investment and create up to 2800 construction jobs, after it was successful in winning a Contract for Difference in last month’s AR6 auction.
The project is the first major commercial development for floating wind in Europe and is on track to become the world’s largest floating offshore windfarm with a government contract, said the developers.
Last week Flotation and Vargronn announced Green Volt’s headquarters would be in Aberdeen, in part due to its status as home to the largest concentration of subsea supply chain companies in Europe, they said.
The partners added the project will provide a vital stepping stone to the wide-scale deployment of floating offshore wind in Britain, contributing to London’s goal of developing 5GW in the sector by 2030.
They said Green Volt will stimulate the floating offshore wind supply chain through continued collaboration with government, including the development of ports infrastructure as an immediate priority.
Vargronn chief executive Stephen Bull (pictured) will represent the project at the International Investment Summit today.
He said: “To build a national industry a comprehensive floating wind strategy is required – from development of supply chain and ports, innovation projects, awarding of new acreage, and route to market through contract for differences to attract private investments across the industry value chain.
“I look forward to taking part in the governments International Investment Summit to discuss the opportunities in energy transition.”