MEMBER NEWS: Breakthrough success for Green Volt floating windfarm in renewable power auction

September 3, 2024
MEMBER NEWS: Breakthrough success for Green Volt floating windfarm in renewable power auction

Leading offshore wind developers Flotation Energy and Vårgrønn today announce that their pioneering floating offshore wind project, Green Volt, has been successful in winning a UK Government Contract for Difference.

Green Volt is a hugely exciting project that will not only supply clean power to the grid, but also help the oil and gas industry meet its goal of halving emissions by 2030.

Stephen Bull, CEO of Vårgrønn, said: “This award is a clear vote of confidence from the UK Government in our plans to build Europe’s first commercial scale floating offshore wind farm. It is fantastic news for both our project and the wider floating offshore wind sector. Green Volt will stimulate investment in new port infrastructure, helping accelerate the development of more floating windfarms. We look forward to expanding our dialogue with the supply industry.”

Nicol Stephen, CEO of Flotation Energy, added: “Scotland is already a global pioneer in floating wind. This funding will kickstart the next phase of Europe’s largest floating wind project 80 km off the coast of Northeast Scotland. Green Volt is a huge £2.5 billion project. It will create over 2,800 jobs during construction. Once operational, the floating offshore windfarm will supply clean power to the UK grid, while also supplying renewable electricity to nearby oil and gas platforms.”

The Government aims to reach 5GW of floating offshore wind by 2030 and today’s news is a really important step towards this target.

To find out more about the Green Volt floating offshore windfarm, please visit: https://greenvoltoffshorewind.com/

Get in touch

AREG is the original energy transition organisation, working on behalf of members to empower the energy supply chain and champion its expertise. Please get in touch if you have any questions or would like to find out more about membership.

Contact Us
“

AREG has played an important role in the growth of Scotland’s renewable energy sector, engaging the supply chain and developing the European Offshore Wind Deployment Centre. However, we are only at the very beginning of the transition that AREG was established to both lead and support so there are still opportunities for companies to get into the constantly evolving renewables supply chain. We look forward to continuing our work together as renewables builds on its place as Scotland’s main source of power, and as we seek to deliver real change in the crucial areas of heat and transport.

Scottish Renewables
“

Aberdeen & Grampian Chamber of Commerce has worked closely with AREG since its formation. The recent progress in the developments of offshore wind projects by Equinor and Vattenfall are as a result of the work of the group over many years. The north-east is known as the oil and gas capital of Europe. At the Chamber, we believe the region must evolve its position to being recognised as the energy capital. Whilst hydrocarbons will continue to be essential in driving our economy for years to come, the generation of renewable resources will play an increasingly important role in providing cost-effective power, innovative development and economic growth.

Aberdeen & Grampian Chamber of Commerce
“

The enthusiasm and dedication of the early group that would become AREG was fundamental in us choosing to launch All-Energy in Aberdeen. The first tiny show was held in 2001, and AREG’s Chairman at the time, Jeremy Cresswell, played such an active role that I often describe him in terms such as All-Energy’s ‘midwife’. All-Energy is now the UK’s largest renewable and low carbon energy exhibition and conference in terms of number of attendees, space booked, and number of exhibiting companies. As AREG became firmly established, their presence and support for the event grew spectacularly over the years. We thank them most sincerely for their invaluable input.

All-Energy
“

Vattenfall has forged a strong working relationship with AREG through the development of the European Offshore Wind Deployment Centre. AREG has worked tirelessly on behalf of the North East and it can take enormous credit for the growth of sustainable energy in the region and the path it has cleared for the region to capture further investment.

Vattenfall
“

Aberdeen City and Shire is emerging as a key location for renewables by successfully transferring its world-class oil and gas expertise into the sector and AREG has done much to advance this through a broad range of initiatives. It has acted as a catalyst in driving further investment in the local economy by engaging with companies, Government, public bodies and existing projects and we have been pleased to support their efforts. Scottish Enterprise will continue to engage with AREG as we increase Scotland’s use of renewable energy.

Scottish Enterprise