TechnipFMC, Magnora win 500-MW floating wind project in Scotland

January 19 (Renewables Now) - The partnership between French-American oil services major TechnipFMC (EPA:FTI) and Oslo-based renewables investor Magnora ASA (OSL:MGN) has won the right to develop a 500-MW floating wind project in Scotland.

The entity known as Magnora Offshore Wind AS took part in the ScotWind leasing round held by Crown Estate Scotland and was awarded the opportunity to sign an option agreement for the N3 area, situated in the northwestern part of the country, about 40 km offshore Western Isles.

The partnership plans to secure consent in 2026, make the final investment decision in 2028 and complete the project in 2030. The resulting wind farm will span 100 sq km, consisting of 33 semi-submersible floating wind turbines of 15 MW each.

Magnora Offshore Wind was set up in January 2021 to make use of Magnora’s renewable and offshore project development expertise and TechnipFMC’s know-how in executing large integrated offshore projects.