Flotation Energy’s Post

Great news from Flotation Energy today 👇 The project is the first major commercial development for floating wind in Europe, made possible through the joint efforts of industry, UK and Scottish Governments to efficiently clear planning milestones and access to the CfD. Projects like this are a great example of what a homegrown energy transition can look like - creating jobs and triggering investment👏

Earlier this week the UK government confirmed two port infrastructure projects are closer to securing a share of up to £160m of funding. To support floating wind development in the UK, the Port of Cromarty Firth and Port Talbot will be taken forward to undergo due diligence as part of the Government's Floating Offshore Wind Manufacturing Investment Scheme (FLOWMIS). Responding, Head of Energy Transition and Supply Chain Emma Harrick said: “Strategic investment in Scotland’s ports has been a longstanding ask of the renewable energy industry so it is great to see this fresh investment into the Port of Cromarty Firth. This funding will help to support Scotland’s renewable energy future as the mainstay of clean energy generation in the UK. “To make the most of FLOWMIS we are urging the UK Government to consider flexibility in the timescales for this scheme as spending deadlines are currently restrictive and do not reflect the investment barriers our ports face. “A sea of opportunity is on the horizon for Scotland’s offshore wind supply chain and if we are to harness this economic potential it is vital that both the UK and Scottish Government support all strategic ports with a spirit of collaboration. “Today’s announcement is welcome however this funding is only a drop in the ocean and supply chain support like this needs to be delivered at pace to establish a world-class renewable energy supply chain in Scotland.” #renewablenergy #ports #supplychain https://lnkd.in/eAetgvtE

One of the world's biggest floating offshore wind projects, located off the Aberdeenshire coast, gets the green light ✅ Green Volt, Europe's first commercial-scale floating windfarm and a 50-50 joint venture between Aberdeen-based Flotation Energy and Norwegian firm Vårgrønn, is expected to create up to £3 billion of investment opportunities and hundreds of new jobs 🤩 Sir Ian Wood, Chair of the Energy Transition Zone (ETZ) said: “The awarding of consent for the Green Volt INTOG project is a massive boost for Scotland’s ambition to be a global leader in floating offshore wind. Crucially, it also sends a huge signal to domestic and international investors that Scotland is indeed a pioneer in this technology and the ideal location to manufacture and deliver floating wind developments.” #ScotlandIsNow #EnergyTransition https://ow.ly/JZ9b50RlfQO

The largest planned wind farm in the UK – and one of the largest anywhere in the world – is stuck in planning limbo, with inaction by the Scottish Government holding back thousands of jobs and billions in investment, the Aberdeen & Grampian Chamber of Commerce has highlighted. SSE Renewables

The Crown Estate has initiated a Supply Chain Accelerator to stimulate early-stage investment in the UK offshore wind supply chain. The accelerator is a new GBP 50 million (approximately EUR 58.7 million) fund created to accelerate and de-risk the early-stage development of projects linked to offshore wind. An initial GBP 10 million round of funding is now open for Expressions of Interest for businesses looking to establish UK projects that could support the development of a new UK supply chain capability for floating offshore wind in the Celtic Sea. The application process opens formally in mid-June and closes at the end of July. The final announcement will be made in October 2024. Earlier this year, The Crown Estate published research, the Celtic Sea Blueprint, which predicted that 5,300 jobs and a GBP 4.1 billion economic boost could be generated through deploying the first floating offshore wind capacity, that will result from the current leasing Round 5 process, under which leases for up to 4.5 GW of generation capacity will be awarded in the waters off South Wales and South-West England. The research outlined several supply chain development opportunities essential for floating wind farms, including floating platform components, dynamic cables and connections, wet storage infrastructure and facilities, operations and management infrastructure and facilities, and skills transition facilities. The accelerator's first GBP 10 million funding round will target projects addressing these opportunities, offering up to GBP 1 million in matched funding for early-stage development. The Crown Estate said it will look for the option to participate in the capital investment phase. A further GBP 40 million round of funding has been earmarked that could potentially be deployed to support UK projects that meet the opportunities identified by the Industrial Growth Plan, which was launched last month, setting out the actions required to triple offshore wind manufacturing capacity over the next ten years. The UK's offshore wind pipeline grew by 10 GW in 2023 to 93 GW, with the sector producing 49 TWh of electricity last year, according to The Crown Estate's recently published UK Offshore Wind Report 2023. The UK government estimates that 125 GW could be needed by 2050 to meet net zero, "hence investment in the UK's supply chain is crucial if the industry is to remain competitive in the face of global efforts to decarbonise energy networks," according to The Crown Estate. #renewableenergy #wind #carbon60 #engineering #uk #energy #offshorewind

This is a classic case of failing to provide the information needed for the public, councils, civil servants and others to fully understand who is behind big investments in renewables like this one. Saying that Green Volt is a joint venture between Flotation Energy and Vårgrønn presents only part of the picture, and not one that will mean much to most readers since almost no-one has heard of either one, likely set up quite recently as special purpose entities. In fact, Green Volt is effectively a venture between a large Japanese power utility called Tokyo Electric Power Company (Tepco) - the Flotation Energy bit - and Eni, Italy's largest oil, gas and renewables group, with investment from some Norway-based private equity investors - the Vargronn bit. This means that one of the largest offshore wind projects in Scotland is owned and being developed by companies from Japan and Italy, with additional investment from elsewhere (and, by the way, foreign investment is a good thing). It is not owned and being developed (at least, not exclusively) by a company in Aberdeen, Scotland. Aberdeen is merely the location of the wind farm's operational headquarters. Specifying the companies and investors that are ultimately putting money into a project, and who therefore are the ultimate decision-makers, is essential in order for transparency and accountability, especially in an area as important as the build-out of renewable power and infrastructure in Scotland. We need more of this, as offshore wind is built out. #Scotland #Japan #Italy #renewables #offshorewind Scottish Enterprise

Good news for the UK offshore wind economy. RenewableUK, the @Offshore Wind Industry Council, The Crown Estate and Crown Estate Scotland have published a detailed Industrial Growth Plan, setting out how to triple offshore wind manufacturing capacity over the next ten years, firmly establishing the UK as a leader in a surging global market.

Billions of pounds of investment opportunities and new jobs are expected to be created following the approval of one of the world's biggest floating offshore wind projects, Green Volt ✅ Europe's first commercial-scale floating windfarm, located off the Aberdeenshire coast, is a 50-50 joint venture between Aberdeen-based Flotation Energy and Norwegian firm Vårgrønn. Sir Ian Wood, Chair of the Energy Transition Zone (ETZ) said: “The awarding of consent for the Green Volt INTOG project is a massive boost for Scotland’s ambition to be a global leader in floating offshore wind. “This decision will unlock around £3 billion of investment, generate hundreds of jobs and will effectively result in Europe’s first commercial scale floating wind development. #ScotlandIsNow #EnergyTransition https://ow.ly/JZ9b50RlfQO

Long term offshorewind development in UK : UK has a plan ! RenewableUK, the Offshore Wind Industry Council, The Crown Estate and Crown Estate Scotland have published an Industrial Growth Plan, setting out how to triple offshore wind manufacturing capacity over the next ten years in the UK. The UK offshore wind industry already employs 32,000 people and each new large offshore wind farm adds GBP 2-3 billion to the economy. Employment is set to rise to over 100,000 by 2030 and investment in new offshore wind projects is expected to create an economic opportunity worth up to GBP 92 billion for the UK by 2040. The measures set out in the Industrial Growth Plan (IGP) would create an additional 10,000 jobs a year and boost the UK’s economy by a further GBP 25 billion between now and 2035, if the offshore wind deployment is accelerated in line with the country’s net zero targets to 5-6 gigawatts a year, the report states. The UK has the second-largest global pipeline of offshore wind projects at all stages of development at nearly 100 GW – more than six times our current capacity. The IGP also identifies five key technology areas in which the UK should prioritise investment to secure value for UK industry. These include the design and manufacture of offshore wind blades and turbine towers, foundations, cables and other key components and services for projects here and abroad. The Growth Plan also highlights the industry’s potential to drive technology innovation, accelerate deployment and cut environmental impacts even further by incorporating automation and AI technologies in new projects. It sets out plans to expand testing facilities for cutting-edge technology, such as new materials for blades and designs for floating offshore wind platforms, as part of a focus on Research and Development at a potential new Advanced Technology Institute and a new National Innovation Hub, working in harmony with UK’s Catapult network. The plan aims to provide a shared vision which enables industry, governments across the UK and other funders to better align their investments to boost green jobs and manufacturing in the UK. The plan envisages mobilising nearly GBP 3 billion of funding nationwide, with private finance doing the heavy lifting. This is expected to bring a return to our economy of just under GBP 9 for every GBP 1 invested. ”Establishing this supply chain will take co-ordination and collaboration across UK governments and industry, and the IGP provides the detail needed to target those areas where we can have the biggest impact,” Gus Jaspert, Managing Director, Marine at The Crown Estate, said...: https://lnkd.in/eBK_XSJd

🧐 Interested to see how the Gunaikurnai are involved in the consenting process and EIA’s for the Gippsland feasibility OW plans over the next 12-24 months. 🇦🇺 Unsure if the proposed IPA Plan in the area stretches far enough but, it would be a good framework to consider when supporting the First Nations cultural values and the identification of threats to those values. 🌏 The preservation of cultural heritage and values and the commitment to working with onshore communities, particularly where there are indigenous and spiritual connections to the land and seascape, is as important as any financial or feasibility constraint when considering a development. Whilst discussing the EIA’s for all the proposed development sites in AUS… The survey/geo investigations and impact assessments are going to be huge pieces of work to land!! 🤯 #australianwind #ausauction #ausoffshorewind #australia #netzero #offshorewind #feasibility #culturalheritage #culturalpreservation #onshorecommunities #eia #consenting