Hexicon wins UK’s first CfD auction for floating offshore wind

July 7, 2022
Hexicon's TwinHub project has secured 15-year revenue support from the UK government for the first floating offshore wind project in England and Wales.

Offshore staff

STOCKHOLM, Sweden  The UK government confirmed that Hexicon AB’s TwinHub project in the Celtic Sea was successful in the latest contracts for difference (CfD) allocation round. It has been awarded a CfD for its 32-MW floating wind project at a strike price of £87.30/MWh,taking the project a significant step closer to completion.

"With this decision, our TwinHub project will be the first floating offshore wind project in England and Wales to achieve this milestone, and we can now progress to the delivery phase and continue engagement with the local communities, stakeholders and regulators, with the support of Celtic Sea Power,” said Hexicon CEO Marcus Thor.

Hexicon developed its TwinWind floating foundation using its patented technology that allows for two full-size turbines to be placed on a single foundation, enabling more energy to be generated in a given sea area while reducing environmental impact of a single foundation.

The TwinHub project is expected to be commissioned and exporting clean power between 2025 and 2027. The project will aim to maximize the use of local supply chains to bring the economic benefits of floating offshore wind to the region, including Falmouth Port, which has a potential to play an important role in the project’s development and ongoing operation and maintenance services.