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Scot Wind offshore auction rises

 

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An auction of seabed plots for major offshore wind projects around the Scottish coast has netted £700m.

Seventeen projects covering a total of 7,000km2 have been chosen in the first such leasing round in a decade.

They have a combined potential generating capacity of 25GW - well above the expected auction outcome of 10GW.

Scotland has 1.9GW of operational offshore wind and another 8.4GW in construction or advanced development many business listings.

The ScotWind leasing auction attracted more than 70 bids from major oil companies, utility firms, and investment funds from around the world.

·   Will ScotWind auction deliver a renewables revolution?

·  ScotWind offshore wind auction attracts 74 bids

Most of the sites are on the east, northeast, or northern coast, with just one on the western side of Scotland.

Successful bidders include Scottish Power, which won the seabed rights to develop three new offshore wind farms with a total capacity of 7GW.

They include two new floating projects in conjunction with Shell and one fixed project.

Crown Estate Scotland awarded options for 17 sites around Scotland

The site map key and lead winners:

1.      BP Alternative Energy Investments (2,907MW capacity)

2.      SSE Renewables (2,610MW)

3.      Falck Renewables (1,200MW)

4.      Shell New Energies (2,000MW)

5.      Vattenfall (798MW)

6.      DEME (1,008MW)

7.      DEME (1,008MW)

8.      Falck Renewables (1,000MW)

9.      Ocean Winds (1,000MW)

10.  Falck Renewables (500MW)

11.  Scottish Power Renewables (3,000MW)

12.  BayWa (960MW)

13.  Offshore Wind Power (2,000MW)

14.  Northland Power (1,500MW)

15.  Magnora (495MW)

16.  Northland Power (840MW)

17.  Scottish Power Renewables (2000MW)

Shell New Energies is the lead applicant on the most expensive development, off the coast of Aberdeen, estimated to cost £86m in option fees. BP Alternative Energy Investments and SSE Renewables will each pay £85.9m in fees for two sites.

The auction process was overseen by Crown Estate Scotland, with funds raised from the process going to the Scottish government.

The winners have now been offered option agreements that reserve the rights to specific areas of the seabed.

They include parts of the North Sea to the east of Angus, the outer Moray Firth, west of Orkney, east of Shetland, and northwest of both Lewis and Islay business listings.

Scot Wind represents a major sea-change in how we generate our electricity in Scotland.

By the time they're all built, an estimated six million tonnes of carbon dioxide will be prevented from entering our atmosphere each year. That's about an eighth of all Scotland's emissions for 2019.

But we've already largely decarbonized our electricity sector. So, why build more offshore wind farms?

The inherent unpredictability of the wind means we need masses of overcapacity to allow us to keep the lights on when some of the turbines are not turning. But those looking after the grid need to be cleverer than just building more turbines.

That means a growing use of smart technology and increased storage - through batteries or green hydrogen - will become critical in the coming years.

Crown Estate Scotland chief executive Simon Hodge said: "Today's results are a fantastic vote of confidence in Scotland's ability to transform our energy sector.

"In addition to the environmental benefits, this also represents a major investment in the Scottish economy, with around £700m being delivered straight into the public finances and billions of pounds worth of supply chain commitments."

'Historic opportunity

First Minister Nicola Sturgeon described the Scot Wind auction as a "truly historic opportunity for Scotland's net-zero economies".

She added: "The scale of opportunity represented in today's announcement exceeds our current planning assumption of 10GW of offshore wind - which is a massive vote of confidence Scotland."

Scottish Renewables said the announcement was "an exciting and significant moment in Scotland's renewable energy story" free business listings.

Chief executive Claire Mack added: "The potential for 17 new projects creates huge ambition for our sector to deliver on, and will require strong collaboration to deliver maximum impact for our economy and environment."

The auction was originally meant to close at the end of March last year but was delayed after a parallel English and Welsh auction resulted in far higher prices than expected.

At the risk of losing out on hundreds of millions of pounds if it stuck to its original auction price guidelines, CES raised the cap for the auction bids from £10,000 to £100,000 per square kilometer.

The Scottish government has set a target of reaching net-zero emissions by 2045.

More on this story

·         Will Scot Wind auction deliver a renewables revolution?

·         Energy giants bid to make Scotland first on wind power

·         Offshore wind auction attracts dozens of bids

·         Bidders 'frustrated' by wind farms auction delay

Related Topics

·         Wind power

·         Isle of Lewis

·         Orkney

·         Shetland

·         Isle of Islay

·         Renewable energy


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