BOSSES from Aberdeenshire offshore windfarm Green Volt were part of the group of Scottish entrepreneurs who attended the UK Government’s investment event.
The summit, which secured a record-breaking £63 billion in investments and nearly 38,000 jobs for the UK, provided a platform for Green Volt to showcase its ambitious plans.
The Green Volt initiative received approval in April and secured a UK Government Contract for Difference award in the previous month. Upon completion, it will feature up to 35 floating wind turbines, capable of generating up to 560 megawatts of power.
Green Volt, jointly owned by Flotation Energy and Norwegian firm Vårgrønn, is set to unlock £2.5 billion of investment for its planned offshore wind farm. This project is on track to become Europe’s first commercial-scale floating windfarm, with a capacity of 540MW. The company’s presence at the summit underscores the significance of this investment and its potential impact on the UK’s renewable energy landscape.
The company recently announced Aberdeen as its strategic and operational headquarters, a decision that aligns with the summit’s focus on driving investment across all regions of the UK. This move is expected to create approximately 40 jobs in the city, further cementing Aberdeen’s position as a key player in the energy transition.
Stephen Bull, chief executive of Vårgrønn, represented the Green Volt project at the Prime Minister’s International Investment Summit yesterday. He said: “To build a national industry a comprehensive floating wind strategy is required – from development of supply chain and ports, innovation projects, awarding of new acreage, and route to market through contract for differences to attract private investments across the industry value chain.
“I look forward to taking part in the government’s International Investment Summit to discuss the opportunities in energy transition.”
Green Volt’s involvement in the summit not only highlights its own ambitious plans but also reinforces Scotland’s and the UK’s position as leaders in offshore wind technology. As the project moves forward, it is expected to play a crucial role in the UK’s transition to clean energy and its efforts to achieve net-zero climate objectives.