Offshore wind developers Flotation Energy and Vargronn have initiated a partnership to develop offshore wind projects to decarbonise oil and assets in the North Sea.
The partners will apply for leases under Crown Estate Scotland’s Innovation and Targeted Oil and Gas (INTOG) round.
The INTOG leasing round aims to make a significant contribution to Scotland’s net zero target, and the North Sea Transition Deal goal to reduce offshore emissions by a minimum of 50% by 2030.
The offshore wind farms will generate clean power to electrify oil and gas installations at sea, with excess power generated supplied to the grid, the partners said.
Vargronn is a Norwegian full cycle offshore wind company owned by the global energy company Plenitude (Eni) and the Norwegian energy entrepreneur and investor HitecVision.
The partners will leverage the oil and gas expertise of Vargronn’s shareholders to deliver “innovative solutions and promote supply chain development in Scotland”.
Lord Nicol Stephen, CEO & Co-founder of Flotation Energy, said: “Decarbonising UK Oil and Gas platforms is an urgent priority.
“Flotation Energy initiated early development work in 2020.
“We are determined to push forward so that our floating wind projects are delivering renewable energy to the oil and gas sector by the mid-2020s.”
Olav Hetland, CEO of Vargronn, added: “Flotation Energy and Vargronn combine their unique experience from offshore wind development.
Vargronn provides Norwegian offshore competence, offshore wind experience, financial expertise and strength to the consortium, also leveraging on our shareholders Eni and HitecVIsion.
“Flotation Energy has an established local position in Scotland, entrepreneurial drive and experience from developing Kincardine the largest operational floating wind farm in the world.
“We look forward to a very successful partnership for this nationally important project.”