Scheme to cut offshore CO2 emissions by half from 2025
Cerulean Winds Names NOV as Delivery Partner in Offshore Floating Wind Scheme
Green infrastructure developer Cerulean Winds has named NOV as the first of its delivery partners for the fabrication of its proposed integrated 200-turbine floating wind and hydrogen development off the coast of Scotland.
The arrangement would establish NOV as the exclusive provider of floating and mooring systems in support of the venture, which would have the capacity to accelerate the decarbonisation of oil and gas assets in the UKCS by more than halving the 18 million tonnes of CO2 they currently produce by 2025.
Targets set out in the recently published North Sea Transition Deal call for a reduction in offshore emissions by 10% by 2025 and 25% by 2027. To achieve that, preparatory work must begin now if those targets are to be met. Failure to do so undermines the objectives of the Deal.
If it gets the go-ahead, the £10 billion Cerulean Winds project has the capacity to generate enough power to electrify the majority of assets in the UKCS to meet and exceed those targets within the timescale.
However, the timing involved in gaining approvals for the project is critical. Cerulean Winds has submitted a formal request to Marine Scotland for seabed leases, and these must be granted by Q3 in 2021 to target financial close in Q1 2022 and to begin construction soon after so that the infrastructure is in place by 2024-2026.