Equinor and Gwynt Glas enter agreements for lease for floating wind farms

This milestone represents a major vote of confidence in the UK’s offshore wind industry as a place to invest, at a time when global energy markets are being disrupted by geopolitical volatility and pressure on supply chains.

Following an auction in June 2025, these world-leading developers were selected as preferred bidders to deliver two sites through Offshore Wind Leasing Round 5. The sites, which lie off the coasts of South Wales and South-West England, each have a capacity of up to 1.5 GW and hold the potential to generate clean energy for millions of homes.

Round 5 presents a generational opportunity to establish a new market for floating offshore wind in the Celtic Sea, bringing with it a wealth of new opportunities for jobs and economic growth within communities across Wales, South-West England, and beyond.

Research published in 2024 showed that the full delivery of Round 5 could support the creation of more than 5000 new jobs and deliver a £1.4 billion boost to the UK economy.

The Crown Estate will ensure the delivery of the full potential capacity of up to 4.5 GW available through Round 5 through deployment of a third site.

Following the auction in June 2025, The Crown Estate has been actively engaging the market with a view to securing a developer for the site and expects to provide a further update in the near future.

Equinor and Gwynt Glas are now expected to focus on developing their project designs, delivering onshore and offshore site surveys, Environmental Impact Assessments (EIA), public engagement, and securing planning consents.

Once these initial requirements have been completed, the developers can then apply to obtain a full lease from The Crown Estate to build and operate the new wind farms, which could be operational by the mid-2030’s.

This follows several steps taken by The Crown Estate to de-risk Round 5 and make the opportunity even more attractive to prospective bidders ahead of the auction, including agreeing a plan with the National Energy System Operator for connecting the sites to the UK’s energy grid.

As part of industry-leading contractual commitments included within the developers’ agreements for lease, Equinor and Gwynt Glas will also deliver a range of social, economic, and environmental measures over the lifetime of their projects.

For instance, communities will benefit from a commitment to ensure that at least 3.5% of all new workers involved in development of the projects are employed as apprentices, and that a minimum of 10% of all new workers aged 19 – 24 when first engaged on the projects will not currently be in education, employment, or training.

Further details of exciting plans to support local communities and unlock these new onshore opportunities are expected to be set out in due course as developers build out their project teams and define their development schedules in more detail.

Gus Jaspert CMG, Managing Director, Marine at The Crown Estate, responded: “As we edge closer to celebrating 25 years of UK offshore wind in December, the entry of Gwynt Glas and Equinor into agreements for lease in the Celtic Sea is testament to the world-leading industry we see before us today. That the UK is in a position to host large innovative floating offshore wind projects off our coasts is the result of many years of planning, investment, and ambition, ensuring the UK can both facilitate the establishment of exciting new technology and remain attractive to international investors.”

Jaspert added: “These projects will be among the largest of their kind anywhere in the world, with the potential to provide millions of homes with clean energy and support thousands of new jobs. This vital contribution to the UK’s energy security and economic growth should be celebrated and I congratulate both developers on this latest milestone.”

Energy Minister, Michael Shanks, commented: “From its proud industrial heritage to its leadership in clean energy, Wales has always been a crucial driver of British innovation and economic growth. These agreements build upon this legacy through world leading floating offshore wind in the Celtic Sea, creating thousands of jobs, delivering industrial renewal in places like Port Talbot and across the South West, and protecting families from volatile fossil fuel markets with homegrown power.”

Mark Hazelton, Gwynt Glas Project Director, noted: “We are delighted to have reached this major milestone which represents a significant vote of confidence in the UK’s floating offshore wind sector. The agreement for lease underscores our shared commitment to delivering a transformative renewable energy project that will not only contribute to our energy security, but also bring economic and social benefits to Wales, South West, and the UK. We look forward to now advancing the development of Gwynt Glas and working closely with stakeholders to make this vision a reality.”

Melissa Read, Head of Regional Development UK Renewables at Equinor, concluded: “Completion of the agreement for lease is a positive step forwards since the Round 5 Auction in June 2025. We look forward to developing this site in the Celtic Sea further over the coming years and unlocking, together with the industry, the future potential for floating wind in the UK market.”

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