Total, GIG move through UK’s Round 4 leasing with 1.5 GW OWF project
The Crown Estate has selected a 1.5 GW offshore wind project proposed by Total and Green Investment Group (GIG) in the UK’s Offshore Wind Leasing Round 4.
The project site is located in the Eastern Regions zone in the Crown Estate’s Offshore Wind Leasing Round 4.
“This project is our largest renewables development in Europe to date and an important step toward our 2050 net zero ambition. This success builds on our historical expertise in the UK offshore and is paving the way to expansion of our renewable energy offering in the country in line with our strategy of becoming a broad-energy company”, said Julien Pouget, Senior Vice President Renewables, Total.
For the lease, Total and GIG have committed to an investment of GBP 83,000 (around EUR 95,000) in an annual option fee during the development phase.
The project has been selected through a competitive seabed tender process and will now progress to environmental assessment known as a Plan-Level Habitats Regulations Assessment (HRA). The process, which is expected to conclude in Spring 2022, assesses the potential impacts of Round 4 on the UK national network of protected areas covering its most valuable species and habitats.
Subject to the outcome of HRA, the Crown Estate will award the seabed lease which can then put the project into the planning phase.
The Crown Estate has selected six projects in the latest leasing round that will now move to the next stage before being awarded the seabed rights.
As reported earlier today, projects proposed by RWE and a joint venture between the British oil & gas major BP and German EnBW have also been chosen in Round 4.
In total, the six bidders have committed an initial investment of GBP 879 million (around EUR 1 billion) in option fee deposits. Following the conclusion of the Round 4 process through the HRA, option fees will contribute to the Crown Estate’s annual profits, 100 per cent of which are paid to the Treasury.