The Crown Estate unveils leasing round plans

By: Chloe Emanuel 07/12/2023 The Crown Estate

General Windfarms

The Crown Estate announces Round 5 of its offshore wind leasing competition, introducing an opportunity for three groundbreaking floating wind projects in the Celtic Sea. These projects, set off the coasts of South Wales and South West England, aim to power over four million homes with renewable energy.

Envisioned with a combined capacity of 4.5 GW, these wind farms mark the region's first step towards commercial development. The release of the 'Information Memorandum' kicks off the leasing process, providing vital bid details for developers.

Key dates indicate potential lease agreements by Autumn 2025, followed by the statutory planning process for project consent. The four-stage leasing process focuses on technical, legal, and financial criteria.

Round 5 brings new features, including revised safety measures, port requirements, an ascending auction, and commitments to social and environmental values. The Crown Estate aims to support industry success through upfront investments and risk mitigation for developers.

Developers commit to social, environmental impacts, and timely port access. This initiative presents burgeoning supply chain opportunities and will be supported by forthcoming research.

Dan Labbad, Chief Executive of The Crown Estate, emphasizes the significance of floating wind as the next chapter in offshore success, demonstrating the culmination of extensive collaboration among stakeholders.

The UK Government's commitment to further capacity in the Celtic Sea reaffirms support for offshore wind expansion.

For more information about offshore wind farm projects across the globe, click here.

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The Crown Estate unveils leasing round plans

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