The option agreement gives FEA the exclusive right to develop a 960 MW project on the NE8 site, located some 75km off Fraserburgh
Floating Energy Allyance moves 1GW ScotWind development forward with signing of formal option agreement. (Credit: Steppinstars from Pixabay)
BW Ideol AS, a global leader in floating offshore wind, as part of the Floating Energy Allyance (FEA) has signed the formal option agreement with Crown Estate Scotland and takes a further step with the development of the 960MW floating offshore wind farm awarded in this January’s ScotWind leasing round.
The option agreement gives FEA the exclusive right to develop a 960 MW project on the NE8 site, located some 75km off Fraserburgh. This project will implement BW Ideol’s proven and high local content technology. This significant milestone allows the consortium to proceed with the environmental studies required for the consent application process.
“We are pleased that the alliance’s development efforts are progressing as planned. Site investigations and environmental studies are some of the imminent major milestones our teams are pursuing before proceeding to the consent application. Engineering work with a particular focus on grid connection moves fast ahead” said Paul de la Guérivière, CEO of BW Ideol.
FEA is a joint venture between BW Ideol, BayWa r.e., a global renewable energy business, and Elicio, an experienced Belgian offshore wind developer. In connection with the signing of the option agreement, FEA has paid the stipulated option fee.
Source: Company Press Release