TEPCO Renewable PowerTEPCO RP Subsidiary is awarded exclusivity to develop floating offshore wind in Scotland, UK

TEPCO Renewable Power’s subsidiary Flotation Energy (headquartered in Edinburgh, Scotland, UK; hereinafter FE) together with Vårgrønn (headquartered in Stavanger, Norway) have been awarded exclusivity by Crown Estate Scotland for areas to develop a total of up to 1910 MW of floating offshore wind capacity across two projects. The awards are made under Crown Estate Scotland’s Innovation and Targeted Oil and Gas (INTOG) round*.

The successful bid means that the Green Volt and CENOS windfarms could begin with the aim of commencing commercial operation in 2028 and 2030 respectively, through further studies and surveys. These two projects will supply around 9 TWh per year as a whole and reduce carbon emissions by 3.6 million tons per year, contributing significantly to Scotland’s transition to a low carbon economy towards getting to net zero by 2045 as well as the target by the UK North Sea Transition Deal to halve emission from offshore oil and gas by 2030.

TEPCO Renewable Power will continue to expand the capability of the renewable energy in cooperation with our group companies in Japan and overseas, and create a clean and sustainable carbon neutral society by harnessing the natural resources to the best of our ability.

Comments from Masashi Nagasawa, President of TEPCO Renewable Power
This is an extremely meaningful result for TEPCO Renewable Power as it is the first successful bid among those which we have been involved in the bidding process. We will steadily accumulate knowledge and expertise through the development of commercial floating wind farms, in order to expand our business in the upcoming Japanese market and to become a front runner in the rapidly expanding floating wind power generation field.

*One of the off-shore seabed leasing rights bidding rounds in the Scotland sea area. It aims to encourage innovation and decarbonize the oil and gas sector.