Invenergy, a leading privately-held global developer of sustainable energy solutions, and BW Offshore, a floating production specialist, announced a joint venture to develop up to 5.4 gigawatts of offshore wind as part of the first ScotWind leasing round.
The joint venture will focus on developing both floating and fixed foundation offshore wind projects off the Northeast Coast of Scotland, with the projects expected to bring billions of pounds of investment to the Scottish and UK supply chain. The projects are also expected to create substantial high value specialised jobs, both direct and indirect, within Scotland, that would provide a considerable economic contribution to Scotland for decades to come.
Invenergy and BW Offshore are experienced in delivering multi-gigawatt, multi-billion-dollar energy projects, from inception to operation, with a focus on utilising local supply chains and growing locally based project teams. Invenergy has also partnered with BW Group business BWLNG for the delivery of a $1.3 billion LNG-to-power Floating Storage and Regasification Unit (FSRU) project in El Salvador.
Invenergy develops, owns and operates large-scale renewables and other clean energy generation and storage facilities worldwide. The company has successfully developed more than 180 projects across four continents totalling more than 29 gigawatts in capacity and supported by more than $43 billion in arranged financing for its portfolio of projects.
BW Offshore engineers innovative floating production solutions for the oil and gas industry and develops offshore solutions supporting the transition to a low carbon economy. The company’s key competencies are offshore engineering, procurement, construction and installation, as well as lease and operate services for Floating Production Storage and Offloading vessels (FPSOs). Over the past four decades, BW Offshore has completed 40 projects worldwide.
Bryan Schueler, Senior Executive Vice President and & Construction Business Leader, said: “We are uniquely positioned to deliver innovative offshore wind infrastructure to Scotland through leveraging Invenergy’s decades of experience, expertise in leading complex projects to completion and network of strategic supplier relationships such as with GE Renewable Energy. This joint venture represents an important milestone in furthering our partnership with BW Offshore and Invenergy’s continued investment in Scotland and its clean energy future.”
Marco Beenen, CEO of BW Offshore, said: “Together, we represent a unique blend of expertise and ambition to deliver the next phase of energy transition in Scotland, bringing substantial international project development experience and a strong track record for local value creation. ScotWind will play a critical role in delivering the nation’s offshore wind targets and our ambition is to be a central part of this journey, committed to working with Scotland’s supply chain to accelerate the energy transition.”