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					</table><p>Flotation Energy (<a href="https://www.flotationenergy.com/" target="_blank" rel="noopener">FE</a>), a subsidiary of <a href="https://www.tepco.co.jp/en/hd/index-e.html" target="_blank" rel="noopener">TEPCO</a> Renewable Power based in Edinburgh, Scotland, and Norway-based <a href="https://www.vargronn.com/" target="_blank" rel="noopener">Vårgrønn</a><u>,</u> have received exclusive rights from Crown Estate Scotland (<a href="https://www.crownestatescotland.com/" target="_blank" rel="noopener">CES</a>) to develop two floating offshore wind projects with a total capacity of up to 1.91 GW.</p>
<p>In the Targeted Oil and Gas Round, Flotation Energy and Vårgrønn won submarine lease rights from CES, which manages the UK seabed and other assets to support sustainable marine industries, to develop two projects &#8211; Green Volt and CENOS.</p>
<p>The projects are expected to provide a combined electricity supply of 9 billion kWh/year and reduce carbon dioxide emissions by 3.6 million tons/year.</p>
<p>Green Volt and CENOS will conduct wind condition and seafloor surveys, equipment design, and other activities to develop floating offshore wind farms.</p>
<p>Green Volt will start commercial operations in 2028, while CENOS is expected to begin in 2030.</p>
<p>Additionally, the agreement said they will contribute significantly to the offshore oil and gas sector&#8217;s goal of halving emissions by 2030.</p>
<p>The bidding round for the offshore wind power subsea lease rights in the Scottish waters of the United Kingdom is part of the Targeted Oil and Gas initiative aimed at promoting innovation and decarbonization of the oil and gas sector.</p>
<p>Masashi Nagasawa, the CEO of TEPCO Renewable Power, said it was the first project the company had been involved in from the bidding stage.</p>
<p>Nagasawa added that the company would leverage the knowledge and know-how gained from the development of the floating offshore wind farms to become a top runner in the industry and expand into the Japanese market.</p>
<p>The company said it remains committed to developing renewable energy sources in collaboration with its domestic and overseas group companies. Its goal is to achieve a sustainable and clean carbon-neutral society that leverages the benefits of nature.</p>
<p>Recently, Japan&#8217;s electric utility JERA <a href="https://www.mercomindia.com/jera-acquire-viryas-equity-wind-platform" target="_blank" rel="noopener">signed</a> a definitive agreement with Virya Energy to acquire 100% of the shares of Parkwind, Virya&#8217;s offshore wind energy platform, for €1.6 billion (~$1.7 billion).</p>
<p>The European Commission <a href="https://www.mercomindia.com/eu-to-fund-e2-billion-offshore-wind-projects" target="_blank" rel="noopener">approved</a> €2.1 billion (~$2.2 million) in funding to support offshore wind projects to help the EU meet the objectives under its Offshore Renewable Energy Storage and the European Green Deal.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gautamee-hazarika/" class="vcard author" rel="author"><span class="fn">Gautamee Hazarika</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Gautamee,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gautamee-hazarika/" target="_blank" rel="noopener">More articles from Gautamee.</a><br />
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<a href="gautamee@mercomindia.com" target="_blank" rel="noopener">gautamee@mercomindia.com</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">Gautamee</a> is a reporter at Mercom India. Prior to Mercom, Gautamee was working as a multimedia news journalist at ThePrint in New Delhi. She has received her Bachelors in English Honors and Masters in English Literature from St.Stephen&#8217;s College, University of Delhi.<a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">More articles from Gautamee</a></div>
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Tokyo Electric Power to Build 1.9 GW Offshore Wind Projects in Scotland

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