It is expected that the offshore wind project will support nearly 4,000 jobs.

The rights to develop a 960 MW floating windfarm off the northeast coast of Scotland in the NE8 area have been obtained by BayWa r.e with partners Elicio and BW Ideol as part of the Floating Energy Allyance.

The Floating Energy Allyance is one of 17 projects chosen out of 74 applications. With BayWa r.e. having already established itself as a key player in the onshore wind and solar sectors, this acquisition strengthens its position in the offshore industry.

ScotWind is the first Scottish wind leasing round in over 10 years and the first ever since the offshore wind management rights were delegated to Scotland.

Gaining the rights is part of BayWa r.e.’s strategy to establish itself in the offshore and floating offshore wind market and follows the signing of an MOU with Ulsan City in South Korea in 2021 for the development of offshore wind projects off the coast of the city.

“We are delighted to have been awarded the development rights for NE8 by the Crown Estate Scotland in what was a highly competitive tender process,” said Gordon MacDougall, Managing Director of BayWa r.e., UK.

“The level of competition demonstrates the quality of our submission and the confidence that has been placed in BayWa r.e. and our partners.

“We now look forward to delivering this exciting project together with our partners.

“It will help to meet Scotland’s net zero target and put the country at the forefront of the global growth of floating wind while supporting up to 3,900 jobs at the peak of manufacturing and construction.”

The company is looking to further its global development and pursue more offshore opportunities to expand its portfolio over the next year.