Offshore Solutions Group (OSG), a UK-based developer focused on the floating offshore wind industry, has secured £500 000 of investment from Setec, a global, multidisciplinary engineering company headquartered in Paris, France.
The investment will contribute to the development of the trailblazing wet storage project, the Moray FLOW-Park, which is on target to be fully permitted for construction in 2027.
Located in the Moray Firth, and a global industry first, the Moray FLOW-Park will provide temporary wet storage for floating offshore wind assets – optimising risk management and logistics during the assembly, wind turbine generation integration, and the deployment process.
OSG achieved a key milestone earlier this year when it secured exclusivity from Crown Estate Scotland on the required seabed in the Moray Firth. In preparation, OSG has worked closely with Scottish Enterprise and a wide range of local, regional and national stakeholders to progress this critical infrastructure, on a timeline that actively supports the delivery of ScotWind and INTOG projects across Scotland.
Will Rowley, CEO of OSG, said: “This investment is a crucial enabler of the development and commissioning of the global floating offshore wind industry’s first FLOW-Park, and we look forward to progressing this project with the objective of beginning construction in 2027. I’d like to extend my thanks to Setec and Scottish Enterprise for supporting a project that will essentially unlock the offshore wind industry for Scotland, facilitating its sustainable future.
“The Moray FLOW-Park continues to seek further investment as it undertakes extensive site investigative work later this year. FLOW developers or owners who choose to invest will benefit from priority access, which offers a prime location for ScotWind and INTOG projects.”
Setec, which aims to solve the major challenges of the 21st Century – including climate change and enabling renewable energy – operates over 20 subsidiaries with 4000 employees worldwide.
Michel Kahan, President of the Setec Group, commented: “The UK is a pioneer in the deployment of large scale floating wind, particularly in Scotland. The progress and lessons learned from this market will be significant. We are delighted to be involved and to be able to apply engineering solutions that will unlock the potential of floating offshore wind, and accelerate the deployment of projects, while contributing to national and European objectives for decarbonising the energy mix.”
Scottish Enterprise Director for Energy Transition, Suzanne Sosna, added: “This new international investment is another positive step forward for the development of Moray FLOW-Park. Accelerating the energy transition is a key priority for Scottish Enterprise and we are working closely with OSG and others to ensure we have the right infrastructure for Scotland’s growing offshore wind sector to thrive.”
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