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August 22, 2022

Mainstream Renewable Power and Ocean Winds Win 1.8 GW ScotWind Site

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Mainstream Renewable Power (“Mainstream”), the global renewable energy company majority-owned by Aker Horizons, and Ocean Winds, the international company dedicated to offshore wind energy, have been appointed preferred bidder by Crown Estate Scotland for an area with the potential for a 1.8 GW offshore wind farm off the Shet-land 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 100m 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. It is a testament to the strength of the partnership, and to Mainstream’s standing as a leading developer of gigawatt-scale renewables platforms with significant offshore technology expertise. This was further reinforced by the company’s recent combination with Aker Offshore Wind,” said Kristian Røkke, Chief Executive Officer of Aker Horizons and Chairman of Mainstream.

“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,” said Mainstream’s Chief Executive Officer Mary Quaney. “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 stronger renewable energy company with more than 27 GW net portfolio. Combining Aker Offshore Wind’s strong technical and engineering capabilities and early mover position in floating offshore wind with Mainstream’s proven project development methodology, execution track record and global presence unlocks new opportunities worldwide. The company is currently bringing forward multi-gigawatt scale developments of offshore wind assets in markets including Vietnam, South Korea, Japan, Norway, Ireland and Sweden.