14 October 2024: The Aberdeen-based Green Volt floating offshore windfarm is set to join UK leaders, high-profile investors and businesses from around the world today at the UK Government’s first International Investment Summit.
The pioneering Green Volt project is set to unlock £2.5 billion of private investment and create up to 2,800 construction jobs, after it was successful in winning a UK Government Contract for Difference last month. The project is the first major commercial development for floating wind in Europe and is on track to become the world’s largest floating offshore windfarm with a government contract.
Just last week, developers Flotation Energy and VÃ¥rgrønn announced their decision to base Green Volt’s headquarters in Aberdeen, in part due to its status as home to the largest concentration of subsea supply chain companies in Europe.
The Green Volt project will provide a vital stepping stone to the wide scale deployment of floating offshore wind in Britain, contributing to the UK Government goal of developing five gigawatts by 2030. Through continued collaboration with Government, Green Volt will stimulate the floating offshore wind supply chain, including the development of ports infrastructure as an immediate priority.
Stephen Bull, Chief Executive of Vårgrønn, will represent the Green Volt project at the International Investment Summit today. He said:
“To build a national industry a comprehensive floating wind strategy is required – from development of supply chain and ports, innovation projects, awarding of new acreage, and route to market through contract for differences to attract private investments across the industry value chain.
“I look forward to taking part in the governments International Investment Summit to discuss the opportunities in energy transition.”
To find out more about the Green Volt floating offshore windfarm, please visit: https://greenvoltoffshorewind.com/.
ENDS
Issued by Weber Shandwick on behalf of Vårgrønn and Flotation Energy.
For further information please contact:
Gemma Forrester: 07929722813 / gforrester@webershandwick.com
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Notes to Editors
About Vårgrønn
Vårgrønn is an agile, Norway-based offshore wind company powering the energy transition through development, construction, operation, and ownership of offshore wind projects and related infrastructure. Vårgrønn is a joint venture between the energy company Plenitude (controlled by Eni) and the Norwegian energy entrepreneur and investor HitecVision.
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VÃ¥rgrønn’s current pipeline of projects and prospective projects spans England, Scotland, Ireland and Norway in addition to early-stage initiatives in the Baltics. VÃ¥rgrønn holds a 20% share in Dogger Bank, the world’s largest windfarm under construction and is developing Europe’s first commercial-scale floating wind farm, Green Volt, together with Flotation Energy.
By 2030, Vårgrønn targets at least 5 GW of offshore wind in operation or sanctioned across Northern Europe.
About Flotation Energy
Flotation Energy, headquartered in Edinburgh, Scotland, sits at the heart of the energy transition. It’s determined to support the big switch to sustainable, clean and affordable energy through the application of innovative offshore wind technology. An ambitious offshore wind developer, Flotation Energy has a 13GW portfolio that covers both fixed and floating developments globally, with projects in the UK, Ireland, Taiwan, Japan and Australia. Â
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Whilst Flotation Energy develops projects independently, it also recognises the strategic value of partnership and collaboration to deliver proven, cost-effective solutions.
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Gemma Forrester
Senior Manager
M +44 7929722813
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