Nadara has finalized a deal to acquire BlueFloat Energy’s stake in a quartet of Scottish floating offshore wind projects, marking a significant shift in the ownership landscape of the UK’s burgeoning floating wind sector. The acquisition, which sees Nadara take over the 50% shareholding in the 2.9GW portfolio from BlueFloat’s UK partnership, underscores Nadara’s commitment to advancing Scotland’s offshore wind ambitions.
The portfolio includes the 1.8GW Bellrock, 900MW Broadshore, 100MW Sinclair, and 100MW Scaraben projects. These projects are part of the ScotWind and Innovative and Targeted Offshore Wind (INTOG) schemes, which aim to bring significant floating wind capacity online by the mid-2030s. Nadara’s acquisition demonstrates its strategic focus on these schemes, positioning the company as a key player in Scotland’s offshore wind future.
Interestingly, the 1.5GW Stromar floating project will continue under its existing ownership structure, with Nadara, BlueFloat Energy, and Ørsted each maintaining a one-third stake. This indicates a continued collaboration among the parties for this particular project, despite the broader shift in ownership for the other four projects.
The deal comes after reports earlier this year that BlueFloat owner Quantum Capital Group had decided to cease operations at the Spain-based outfit. The transfer of BlueFloat’s stake was first revealed earlier this month by subscriber-only reNEWS, highlighting the dynamic nature of the offshore wind sector and the strategic realignments occurring among key players.
This acquisition could have several implications for the sector. Firstly, it consolidates Nadara’s position in the Scottish floating wind market, potentially accelerating the development of these projects. Secondly, it may signal increased competition among developers vying for a stake in the UK’s offshore wind sector, particularly as the ScotWind and INTOG schemes progress. Lastly, the continued collaboration on the Stromar project suggests that partnerships and strategic alliances remain crucial in navigating the complexities of offshore wind development.
As the UK strives to meet its ambitious offshore wind targets, such deals will likely become more common, shaping the sector’s trajectory and influencing how projects are brought to fruition. The focus will be on how Nadara leverages this acquisition to drive forward the development of these projects and contribute to the UK’s renewable energy goals.