Fred. Olsen Renewables and Vattenfall join forces for ScotWind


Fred. Olsen Renewables (a wholly owned subsidiary of Bonheur ASA) and Vattenfall have entered into a 50/50 partnership to bid in the upcoming leasing round for offshore wind in Scotland.

Scotland’s upcoming offshore wind leasing round, ScotWind, will include up to 15 areas amounting to 10 GW in capacity. Bids for lease options will be due in July, with an award of option agreements expected in Q1 2022. Upon obtaining key consents and permissions from relevant authorities, an option can be exercised to obtain a lease for an offshore wind farm development.

Helene Bistrom, Head of Business Area Wind at Vattenfall, said: “This Joint Venture brings together two companies with strong track records in Scotland. We fundamentally understand the importance of developing projects which benefit the local economy and environment while ensuring the best possible value for bill payers.

Vattenfall’s goal is to enable fossil-free living within one generation, and we are very excited to be working with Fred. Olsen Renewables to bring the best of our experience together to create a strong offer for Scotland.”

Anette Olsen, Managing Director of Bonheur ASA and Proprietor of Fred. Olsen & Co. said: “30 years ago, our journey in renewables started in Scotland. Today, Fred. Olsen related companies employ more than 350 people in Scotland. Our focus has always been to create local value, and together with Vattenfall we are confident that we can build on our joint presence in Scotland and deliver offshore wind with considerable local benefits.

"We are very pleased with this partnership, which builds on long standing relations between Vattenfall and Fred. Olsen-related companies. Through our partnership we will provide opportunities and create maximum value for the Scottish economy, local suppliers and communities.”

Fred. Olsen Renewables is a developer, owner and operator of renewable energy with history back to the mid-1990s, with 12 operating wind farms and a total project pipeline of ~4 GW in onshore and offshore wind. Fred. Olsen-related companies employ more than 2000 people within renewables. Fred. Olsen Renewables is wholly owned by the listed (Oslo Stock Exchange) company Bonheur ASA.

Vattenfall currently operates more than 1 GW of wind energy capacity in the UK, including the
European Offshore Wind Deployment Centre (EOWDC) in Aberdeen Bay. The EOWDC has been generating electricity since summer 2018, and is expected to continue operating for another 24 years. It features two 8.8 MW and nine 8.4 MW turbines, all supplied by MHI Vestas. According to Vattenfall, one single rotor lap from the record 8.8 MW turbine provides a British household with electricity for a full day.

For more information on offshore wind farms worldwide, click here.