Green Volt wins UK Government Contract for Difference

Green Volt is a project that will not only supply clean power to the grid, but also help the oil and gas industry meet its goal of halving emissions by 2030.

Stephen Bull, CEO of Vårgrønn, said: “This award is a clear vote of confidence from the UK Government in our plans to build Europe’s first commercial scale floating offshore wind farm. It is fantastic news for both our project and the wider floating offshore wind sector. Green Volt will stimulate investment in new port infrastructure, helping accelerate the development of more floating wind farms. We look forward to expanding our dialogue with the supply industry.”

Nicol Stephen, CEO of Flotation Energy, added: “Scotland is already a global pioneer in floating wind. This funding will kickstart the next phase of Europe’s largest floating wind project 80 km off the coast of Northeast Scotland. Green Volt is a huge £2.5 billion project. It will create over 2800 jobs during construction. Once operational, the floating offshore wind farm will supply clean power to the UK grid, while also supplying renewable electricity to nearby oil and gas platforms.”

The government aims to reach 5 GW of floating offshore wind by 2030.

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