EDINBURGH, UK — Flotation Energy and Vårgrønn have formed a partnership targeting generation of renewable energy from offshore wind farms for the electrification and decarbonization of North Sea oil and gas installations.
They will apply for leases in Crown Estate Scotland’s Innovation and Targeted Oil and Gas (INTOG) round, with a commitment to innovative solutions and promoting development of the supply chain in Scotland.
Lord Nicol Stephen, CEO and co-founder of Flotation Energy, said, “We are determined to push forward so that our floating wind projects are delivering renewable energy to the oil and gas sector by the mid-2020s.”
Flotation Energy, based in Edinburgh, is working on offshore wind projects with 10-GW capacity in the UK, Ireland, Taiwan, Japan and Australia, and it plans to expand into further markets.
Vårgrønn, which describes itself as a full-cycle offshore wind company owned, was established by Eni and HitecVision in 2020 to build on their joint development of Vår Energi as a leading Norwegian offshore E&P company.
Vårgrønn will acquire a 20% interest in the Dogger Bank wind farm project in the UK North Sea. It has also formed a consortium with Agder Energi and Corio Generation bidding for a site in the Sørlige Nordsjø II offshore wind area in Norway, and it teamed up with Equinor to develop floating offshore wind at Utsira Nord in the Norwegain North Sea.
By 2030, the company is targeting 5 GW of installed and sanctioned offshore wind capacity in Europe.