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HomeBusinessScotWind offshore auction collects £700m

ScotWind offshore auction collects £700m

A sale of seabed plots for big offshore wind projects off the coast of Scotland raised £700 million. In the first leasing round in a decade, seventeen projects totaling 7,000km2 were picked.

They have a total potential producing capacity of 25GW, which is significantly greater than the predicted auction outcome of 10GW.

Scotland has 1.9GW of active scotwind offshore wind capacity, with an additional 8.4GW under construction or in early development.

ScotWind offshore auction collects £700m 2

More than 70 offers were received for the ScotWind lease auction from major oil corporations, utility companies, and investment institutions from across the world.

The majority of the locations are on Scotland’s east, northeast, or northern shore, with only one on the western side.

If you want to get updated information about the current happenings then be updated with our website. Stay tuned and be updated.

Also read – Wordle developer donates the money earned via app

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Pooja Singh
Myself Pooja Singh, I have done master's in Mass Communication & Journalism from Tezpur University. I am working here as a content writer. Being a media student I have nose for news. I am always keen and eager to learn new things so that my skills can be enhanced. I love to write about entertainment, politics, environment etc. so I turned my passion to profession.


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