Masdar acquires stake in first floating wind mill
Due to start commercial operation in late 2017, Hywind Scotland is the world’s first floating offshore wind farm
Abu Dhabi’s renewable energy company, Masdar, has secured a 25% stake in Hywind Scotland, a 30-megawatt (MW) floating offshore pilot wind farm in the North Sea.
Through the transaction, Statoil and Masdar have agreed to share the development risk with Masdar covering 25% of previous and future costs.
Due to start commercial operation in late 2017, Hywind Scotland is the world’s first floating offshore wind farm, state news agency, WAM reported.
The purpose of the Hywind pilot farm is to demonstrate cost efficient and low risk solutions for future commercial-scale floating wind farms.
Keith Brown, cabinet secretary for the economy and fair work, Scottish Parliament, said: "When complete, Hywind Scotland will be the first floating wind farm in the UK and its novel technology offers vast, global potential.
“This pilot project aims to take advantage of Scotland’s huge offshore wind resource by operating in waters exceeding 100m depth, demonstrating cost efficient and low risk solutions for commercial scale parks.
"Major investments, such as this one made by Masdar, highlight the importance of continued investment in offshore wind are a sign of increasing confidence within the sector, and position Scotland at the forefront of the global race to develop the next generation of offshore wind technologies."
Located off the coast of Peterhead in Abderdeenshire, Hywind Scotland consists of five 6MW floating wind turbines anchored to the seabed.
The farm covers an area of around 4km m2, with the average wind speed in this area of the North Sea around 10 m per second.
The ongoing construction of monopiles will be followed by assembly at Stord in Norway next summer, before they are shipped to Scotland.
Mohamed Jameel Al Ramahi, CEO of Masdar, said: "Masdar is excited to join the team developing the world’s first floating wind farm, and to build on our partnership with Statoil.”
"Hywind Scotland represents the next stage in the evolution of the offshore wind industry, combining the project management experience and technical expertise of one of the world’s largest offshore energy players – and our own capabilities in renewable energy development acquired over the last decade in the UK and international markets."
Al Ramahi added. "We see tremendous potential in the commercial application of floating offshore wind technologies."
The partnership also consists of a collaboration agreement which will enable the two companies to work together on clean energy technologies across several markets in the near future.
Hywind Scotland is the second offshore wind partnership between Masdar and Statoil after the Dudgeon wind farm, a 402MW project also due to come on-stream by the second half of 2017.
Dudgeon, Hywind Scotland and the 630MW London Array – currently the world’s largest offshore wind farm in operation – will bring Masdar’s gross renewable energy generating capacity in the UK to 1.06 gigawatts (GW), enough power to supply 6,600 homes and displace 63,000 tonnes of carbon dioxide each year.