NOV selected as delivery partner for 3 GW floating wind and hydrogen project in Scotland
Green infrastructure developer Cerulean Winds has named NOV as the first of its delivery partners for the fabrication of its proposed integrated 200-turbine floating wind and hydrogen development off the coast of Scotland.
The arrangement would establish NOV as the exclusive provider of floating and mooring systems in support of the venture, which would have the capacity to accelerate the decarbonization of oil and gas assets in the UKCS by more than halving the 18 million tonnes of CO2 they currently produce by 2025.
If the project gets the go-ahead, the GBP10 billion (US$13852.24 billion) Cerulean Winds project has the capacity to generate enough power to electrify the majority of assets in the UKCS to meet and exceed those targets within the timescale.
However, the timing involved in gaining approvals for the project is critical. Cerulean Winds has submitted a formal request to Marine Scotland for seabed leases, and these must be granted by Q3 in 2021 to target financial close in Q1 2022 and to begin construction soon after so that the infrastructure is in place by 2024-2026.
Cerulean has undertaken the necessary infrastructure planning for the scheme to ensure the required level of project readiness, targeting financial close in Q1 2022. The company is being advised by Société Générale, one of the leading European financial services groups, and Piper Sandler, corporate finance advisors to the energy industry.
