Flotation Energy (FE), a subsidiary of TEPCO Renewable Power based in Edinburgh, Scotland, and Norway-based Vårgrønn, have received exclusive rights from Crown Estate Scotland (CES) to develop two floating offshore wind projects with a total capacity of up to 1.91 GW.

In the Targeted Oil and Gas Round, Flotation Energy and Vårgrønn won submarine lease rights from CES, which manages the UK seabed and other assets to support sustainable marine industries, to develop two projects – Green Volt and CENOS.

The projects are expected to provide a combined electricity supply of 9 billion kWh/year and reduce carbon dioxide emissions by 3.6 million tons/year.

Green Volt and CENOS will conduct wind condition and seafloor surveys, equipment design, and other activities to develop floating offshore wind farms.

Green Volt will start commercial operations in 2028, while CENOS is expected to begin in 2030.

Additionally, the agreement said they will contribute significantly to the offshore oil and gas sector’s goal of halving emissions by 2030.

The bidding round for the offshore wind power subsea lease rights in the Scottish waters of the United Kingdom is part of the Targeted Oil and Gas initiative aimed at promoting innovation and decarbonization of the oil and gas sector.

Masashi Nagasawa, the CEO of TEPCO Renewable Power, said it was the first project the company had been involved in from the bidding stage.

Nagasawa added that the company would leverage the knowledge and know-how gained from the development of the floating offshore wind farms to become a top runner in the industry and expand into the Japanese market.

The company said it remains committed to developing renewable energy sources in collaboration with its domestic and overseas group companies. Its goal is to achieve a sustainable and clean carbon-neutral society that leverages the benefits of nature.

Recently, Japan’s electric utility JERA signed a definitive agreement with Virya Energy to acquire 100% of the shares of Parkwind, Virya’s offshore wind energy platform, for €1.6 billion (~$1.7 billion).

The European Commission approved €2.1 billion (~$2.2 million) in funding to support offshore wind projects to help the EU meet the objectives under its Offshore Renewable Energy Storage and the European Green Deal.