In a significant step towards bolstering California's renewable energy sector, Floventis Energy has announced a groundbreaking collaboration with California Community Power (CC Power) for the development of the state's inaugural floating wind project.
The partnership, formalized through a Memorandum of Understanding (MOU), sets the stage for potential power purchase agreements (PPAs) and aims to propel forward the CADEMO project. Floventis Energy, a joint venture between Cierco and SBM Offshore, is slated to install four 15-megawatt (MW) floating turbines off the coast of Vandenberg Space Force in northern Santa Barbara County.
Scheduled for commercial operation in 2028, the 60-MW complex is positioned to become operational years ahead of other offshore wind ventures in federally leased waters along the California coastline.
Mikael Jakobsson, director of CADEMO, underscored the significance of this collaboration, stating, “As California and the nation rely increasingly on renewable energy to reach their climate goals, they urgently need first-mover information to guide the launch of offshore wind.”
The collaboration between Floventis Energy and CC Power extends beyond conventional industry partnerships. CC Power will play a pivotal role in understanding the drivers of key costs in offshore wind development. Additionally, the community choice aggregator will assist in organizing stakeholder events and incorporating local community perspectives into the project.
Once operational, CADEMO is poised to generate approximately 200 gigawatt-hours (GWh) of electricity annually. Both Floventis Energy and CC Power have expressed intentions to leverage grants, incentives, and other forms of support to mitigate the potential costs associated with offtake agreements.
This alliance marks a significant stride towards advancing renewable energy initiatives in California, contributing to the state's ambitious climate objectives while fostering community engagement and collaboration.
