Portfolio

BP, EnBW, oil majors join Scottish windpower lease auction

By Frank Prenesti

Date: Monday 19 Jul 2021

BP, EnBW, oil majors join Scottish windpower lease auction

(Sharecast News) - BP and Germany's EnBW have put in a joint bid for Scottish offshore wind acreage which could support wind projects with 2.9 gigawatts of capacity, the two companies said on Monday.
BP said its joint bid with EnBW would bring multi-billion pound investments into Scottish offshore wind projects and support infrastructure including ports, harbours and shipyards.

Other firms competing include Equinor, Orsted, Royal Dutch Shell, RWE, France's TotalEnergies and Macquarie Group's Green Investment Group.

The leases will be in big demand as oil producers look to diversify from fossil fuels and expand their renewable power portfolios.

Equinor said the ScotWind leasing round was a good strategic fit with its ambition to expand North Sea offshore wind capacity and offered a great opportunity to develop large floating offshore wind projects at scale

The firm already operates the small Hywind floating offshore wind farm (30 megawatt), off the northeast coast of Scotland, and is a partner in several other British offshore wind farms.

Norwegian offshore wind developer Magnora Offshore wind also confirmed that it submitted application for two zones in Scotland together with TechnipFM.

The results of the ScotWind leasing round are expected to be announced early next year.

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