Shell New Energies is to acquire a 51% stake in Simply Blue Energy’s Kinsale floating wind venture.
Kinsale was set up to develop the Emerald project, a floating wind farm in the Celtic Sea, off the south coast of Ireland.
The new JV will be operated by Simply Blue Energy supported by Shell floating wind experts, with the project office based in the Cork City Docklands rejuvenation area.
The partnership combines Simply Blue’s track-record in developing floating wind projects and local knowledge of the Celtic Sea environment with Shell’s offshore experience, floating wind expertise and ability to develop large complex projects.
Floating wind technology can installed in deeper waters than fixed wind turbines, meaning the Emerald project can be situated 35-60km offshore, reducing visual impacts.
Depending on the size of turbines selected, the first phase of the project will include between 15 and 25 turbines.
The Emerald Project will use state of the art floating wind-powered generators and have an initial installed capacity of 300MW.
It will be located in the vicinity of the Kinsale gas fields, which are currently being decommissioned.
Fieldfisher Ireland advised Simply Blue Energy on the deal with Shell.
Fieldfisher’s head of Dublin renewables team and corporate partner Feilim O’Caoimh said: “We are delighted to have closed another significant transaction for Simply Blue Energy, which has emerged as one of the leading developers of floating wind projects in Ireland.
“Floating wind farms are the next generation of wind technology and should support the accelerated deployment of wind turbines.
“The participation of global energy majors in these projects and the role played by end-of-life oil and gas installations is a shining example of the energy transition in action.
“Congratulations to Simply Blue on this excellent achievement in realising another highly innovative project.”