Equinor has been awarded seabed rights for a floating offshore wind project off the coasts of South Wales and South West England. In the UK’s Offshore Wind Leasing Round 5, run by The Crown Estate, Equinor secured one development area with a potential capacity of up to 1.5GW.
The company will pay £350 per MW per year, excluding VAT, during a 10-year option period, after which a 60-year lease will begin. This marks the UK’s first leasing round dedicated specifically to floating offshore wind.