Ocean Winds has revealed substantial economic contributions from its Moray East and Moray West offshore wind projects, highlighting significant employment and economic benefits for Scotland. According to a study commissioned by Ocean Winds and conducted by BVG Associates, the developments have collectively generated over 8,000 full-time equivalent (FTE) years of employment and contributed more than £700 million in Gross Value Added (GVA) to the UK economy.
The report underscores the positive impact of offshore wind development on regional economies, with forecasts indicating that Moray West alone is expected to contribute £800 million of expenditure within Scotland over its operational lifetime. During the development and construction phases of Moray West, more than 1,500 FTE years of employment have been created locally.
“This study confirms the substantial economic and employment benefits generated by our Moray Firth projects,” stated Adam Morrison, UK country manager for Ocean Winds. “We are proud of the productive relationships we have cultivated with UK, Scottish, and regional supply chain companies over the years.”
Ocean Winds' portfolio in the UK extends beyond Moray East and Moray West to include the Caledonia project and the Arven project east of Shetland, in partnership with Mainstream Renewable Power. These projects collectively contribute over 4GW to the UK's renewable energy targets, reinforcing Ocean Winds' role as a key player in the country's energy transition.
“We have prioritized local sourcing and investments in foundational fabrication and blade production within the UK,” Morrison added. “This approach has not only supported the successful execution of our projects but has also empowered local businesses to thrive.”
The launch event in Aberdeen highlighted the company's commitment to leveraging local supply chains, with ongoing efforts to ensure that communities benefit from Ocean Winds' robust pipeline of development projects. As Scotland continues to expand its renewable energy infrastructure, Ocean Winds remains dedicated to maximizing economic opportunities and fostering sustainable growth across the region.
