Cerulean Winds has finalized three floating wind exclusivity agreements within Crown Estate Scotland's Innovation and Targeted Oil and Gas (INTOG) leasing round, marking a significant step toward the establishment of the North Sea Renewables Grid. This basin-wide initiative is envisioned as a green power generation and transmission system set to supply energy to oil and gas assets, while concurrently providing early opportunities for the domestic floating wind supply chain.
The North Sea Renewables Grid project, a multi-billion pound endeavor, is already progressing through its development phase, with Cerulean Winds actively putting contracts in place. Co-founder and director, Dan Jackson, expressed gratitude to Crown Estate Scotland for their support, hailing the exclusivity agreements as a pivotal milestone in realizing the ambitious scale of floating wind in the UK.
The project involves the creation of the North Sea Renewables Grid, aiming to support the oil and gas industry's energy needs while offering decarbonization solutions. Cerulean Winds is gearing up for Front End Engineering Design (FEED) work, with a Tier 1 delivery consortium initiating the setup of supply chain contracts in 2024 to facilitate project construction.
The North Sea Renewables Grid, consisting of three sites named Aspen, Beech, and Cedar, is anticipated to contribute over £10 billion in combined Gross Value Added (GVA) for the UK, according to independent analysis. Over the development, construction, operational, and maintenance phases, the project is expected to generate over 5,000 jobs in Scotland, with the target for first power delivery set for 2028.
Crown Estate Scotland's INTOG leasing round, revealed in March, was bifurcated into larger projects linked to oil and gas infrastructure and smaller-scale innovation initiatives. The North Sea Renewables Grid aligns with the larger project category and holds promise not only for the energy landscape but also as a benchmark for future floating wind farms.
