Cerulean Winds has revealed an ambitious £10bn ($14.3bn) project that will integrate a 200-turbine floating wind and hydrogen development that will decarbonise oil and gas assets in the North Sea.
The development includes over 200 of the largest floating turbines at sites West of Shetland and in the Central North Sea that will have 3GW per hour of capacity, feeding power to offshore facilities with excess 1.5GW per hour power to onshore green hydrogen plants.
In addition to this, the project will be capable of developing green hydrogen at scale with an export potential of £1bn ($1.4bn).
It is estimated that the current 160,000 oil and gas jobs can also be safeguarded with 200,000 new roles within the floating wind and hydrogen sectors able to be created within the next five years.
The proposed green infrastructure project would have the capacity to abate 20 million tonnes of carbon emissions through simultaneous North Sea projects West of Shetland and in the Central North Sea.
The venture is now calling on both the UK and Scottish governments to make an exceptional case to deliver an extraordinary outcome for the economy and environment with a formal request for seabed leases having been submitted to Marine Scotland.
The Cerulean leadership has tier one contractors in place to deliver the UKCS backbone development and has engaged the financial markets for a fully funded infrastructure construct.
As well as this, Cerulean has undertaken the necessary infrastructure planning for the scheme to ensure the required level of project readiness, targeting financial close in Q1 2022.
Construction would then start soon after with energisation commencing in 2024.
Dan Jackson, Founding Director of Cerulean Winds, said, “The UK is progressing the energy transition, but a sense of urgency and joined-up approach is required to enable rapid decarbonisation of oil and gas assets or there is a risk of earlier decommissioning and significant job losses.
“Emissions are quite rightly no longer acceptable, but with emissions penalties and taxes coming, the UK oil and gas industry’s role in homegrown energy security during the transition could be threatened unless current decarbonisation efforts can be greatly speeded up.
“The consequences of not moving quickly enough will be catastrophic for the economy and the environment.”
Jackson added, “We have a transformative development that will give the UK the opportunity to rapidly decarbonise oil and gas assets, safeguard many thousands of jobs and support a new green hydrogen supply chain.”
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