Mainstream, Ocean Winds Win Preferred Bid Status for 1.8 GW Offshore Wind Farm

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Mainstream Renewable Power, the global renewable energy company majority-owned by Aker Horizons, and Ocean Winds have been appointed the preferred bidder by Crown Estate Scotland for an area with the potential for a 1.8 GW offshore wind farm off the Shetland Islands in Scotland.

Mainstream and Ocean Winds, as the preferred bidders, are now offered the opportunity to enter into an option agreement for the site, which is located east of the Shetland Islands in approximately 100-meter-water depth and is well-suited for floating offshore wind. The project partners, which hold a 50-50 ownership, are committed to developing floating offshore wind on an industrial scale in Scotland, generating local jobs and opportunities in Scotland and the Shetland Islands. The site output is expected to power for the equivalent of over 2 million homes.

“We are proud of Mainstream and Ocean Winds’ success in the ScotWind process,” says Kristian Røkke, CEO of Aker Horizons and chairman of Mainstream. “It is a testament to the strength of the partnership, and to Mainstream’s standing as a leading developer of GW-scale renewables platforms with significant offshore technology expertise. This was further reinforced by the company’s recent combination with Aker Offshore Wind.”

“This is a very significant win for Mainstream, which plays to our key strengths as a global leader in floating offshore wind technology as well as our track record in offshore wind project development,” commented Mary Quaney, Mainstream’s CEO. “In Scotland, we have already developed the 450 MW Neart na Gaoithe Offshore Wind Farm and we now look forward to working with all stakeholders to further develop and strengthen Scotland’s offshore wind industry and help position it as a global leader in floating offshore wind power.”

Mainstream and Aker Offshore Wind in August 2022 completed a transaction to combine the two companies to create a renewable energy company with more than 27 GW net portfolio. The company is currently bringing forward multi-GW scale developments of offshore wind assets in markets including Vietnam, South Korea, Japan, Norway, Ireland and Sweden.

Mainstream, through its combination with Aker Offshore Wind, has already partnered with Ocean Winds in the joint venture KF Wind in South Korea and are in consortium to bid in the upcoming leasing round for floating wind at Utsira Nord in Norway. Mainstream and Ocean Winds are also major shareholders of the floating wind technology provider Principle Power.

“We are proud of the strength that Ocean Winds and Mainstream Renewable Power teams have combined to secure this major new project,” stated Bautista Rodriguez, Ocean Winds’ CEO. “As Ocean Winds, we are looking forward to using our more than 10-year expertise as pioneer in floating offshore wind farms from development to operation to progress this large floating project awarded with Mainstream, as well as the 500 MW floating project also awarded to Ocean Winds during this clearing round. Both will bring major benefits to Shetland and Scotland, and an important contribution to Net Zero.”

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