Mainstream Renewable Power and Ocean Winds have signed a seabed lease agreement with Crown Estate Scotland to construct a floating offshore wind farm. Crown Estate Scotland chose the two companies as the preferred bidders for developing the 1.8 GW project offshore from the Shetland Islands earlier this year. The partners will be required to pay the option price as the successful bidders under the lease agreement valued at $40.4 million inked with Crown Estate Scotland.
Reportedly, Mainstream and Ocean Winds have named the project Arven Offshore Wind Farm. The offshore facility, which will be built on an industrial scale, will generate enough renewable energy to power two million households and prevent three million tonnes of carbon emissions annually.
In August 2022, Crown Estate Scotland chose Mainstream Renewable Power and Ocean Winds as the preferred bidder for a 1.8 GW wind farm site offshore from the Shetland Islands. The selection offers Mainstream Renewable Power and Ocean Winds the opportunity to enter into an option contract for the site, which is expected to be suitable for an offshore wind farm. The offshore wind farm site will be able to power more than two million homes and reduce carbon emissions by three million tonnes annually.