Oil majors secure Scottish offshore wind rights
BP, Shell and TotalEnergies buy options to develop large-scale fixed and floating projects offered in Scotwind tender round
European oil majors BP, Shell and TotalEnergies have each potentially bolstered their positions in the UK’s offshore wind sector by successfully bidding for the rights to develop several large-scale projects off Scotland. Crown Estate Scotland has awarded options to develop 17 projects totalling just under 25GW of capacity in its Scotwind tender—its first offshore leasing round for more than a decade. Developers paid a total of just under £700mn ($955mn) for the project rights, which cover both fixed-bottom and floating technologies. The tender represents the first large-scale auction of floating projects, potentially positioning Scotland as a world leader in a technology suited to deepwater
Also in this section
23 January 2025
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised
21 January 2025
The new president must put his cards on the table and tell the American people, and the world, if the US is formally abandoning the energy transition
14 January 2025
Bioenergy will be a key part of the energy transition as the world decarbonises, and Brazil is set to be a major player in the sector
14 January 2025
The region has ample resources of both gas and renewable energy and developing both will be vital to the global effort to reduce emissions