Green Volt, a major offshore wind project jointly owned by Flotation Energy in Aberdeen and Vargronn in Norway, has chosen Aberdeen as the location for its headquarters. This decision is expected to create up to 40 jobs at the headquarters and trigger around £2.5 billion in investment. The project will be Europe’s first commercial-scale floating windfarm and is set to be located off the coast of Peterhead.
The choice of Aberdeen as the headquarters was described as a natural one due to the city’s expertise in the energy sector, innovation, and the presence of a large number of subsea supply chain companies in Europe. This announcement comes just before the British government’s international investment summit, where Prime Minister Keir Starmer is expected to highlight over £24 billion in private investment for energy projects in the UK. Green Volt’s investment is seen as crucial in supporting the government’s goal of promoting growth in the clean energy sector.
The headquarters of Green Volt is expected to be in the city center, with the exact location yet to be unveiled. This move is seen as another positive development for Union Street in Aberdeen. The project is set to have a significant impact, with an estimated 2,800 jobs in construction following the establishment of the headquarters. Additionally, the windfarm is expected to generate 560 megawatts of electricity to supply the grid and provide green power to offshore oil and gas platforms.
Industry leaders, including Lord Nicol Stephen of Flotation Energy and Stephen Bull of Vårgrønn, have expressed their excitement about the project being headquartered in Aberdeen. The choice of Aberdeen as the location for Green Volt’s headquarters is seen as a signal to investors that the north-east of Scotland is an ideal place to invest in the renewable energy sector. The project’s success in the recent Contract for Difference (CfD) auction further solidifies its position as a key player in the offshore wind industry. By guaranteeing a price for the electricity produced, the CfD scheme makes it easier for renewable energy projects like Green Volt to attract the necessary investments to bring these projects to fruition.
