EDF, ESB, Reventus Partner on 1 GW Celtic Sea Floating Wind Project; Confirm Plan to Bid in UK’s Round 5 Leasing

April 10, 2024, by Adrijana Buljan

The joint venture company behind the 1 GW Gwynt Glas floating wind project is set to change ownership structure as EDF Renewables UK, which owns Gwynt Glas together with DP Energy, is entering into a partnership with Irish renewable energy developer ESB and UK-headquartered offshore wind investor Reventus Power. DP Energy will remain a development partner in the project.

The Gwynt Glas joint venture will now be equally owned by EDF Renewables UK, ESB, and Reventus Power with each holding a 33.33 per cent share. In an update on 10 April, the new partners confirmed that they expect to bid the 1 GW project into The Crown Estate’s Offshore Wind Leasing Round 5.

DP Energy unveiled plans for Gwynt Glas (Welsh for blue wind) in 2021. At the time, the company’s plan was to build a 300 MW floating offshore wind farm at a site located in the waters between the West Wales and South West of England.

DP Energy entered into a joint venture partnership with EDF Renewables UK in January 2022, when the partners revealed the project was planned to have a total installed capacity of up to 1 GW. Later that year, the two companies announced more details about the 1,500-square-kilometre site search area for the floating wind project site.

At the end of 2022, the DP Energy-EDF Renewables joint venture signed a Memorandum of Understanding (MoU) with Associated British Ports (ABP) to investigate the potential opportunities for manufacturing, assembly, load-out, and servicing of the 1 GW project from both Port Talbot and Milford Haven.

In a press release issued on 10 April, EDF Renewables noted that the Gwynt Glas project team had been active in the Celtic Sea region for some time and made significant progress in maximising the opportunity including hosting supply chain events and implementing a programme to inspire the future workforce, Destination Renewables.

“We are fully committed to developing Gwynt Glas Floating Offshore Wind Farm, and look forward to delivering clean energy, supporting skilled jobs and boosting local economies,” said Matthieu Hue, CEO of EDF Renewables UK.

“We already work with ESB on other projects, including Neart na Gaoithe, our offshore wind farm, currently under construction in the Firth of Forth and the Stornoway onshore wind farm in the Western Isles. We have a close relationship with the Reventus Power team, having a worked with them on Provence Grand Large, France’s first floating offshore wind farm.”

The news of Reventus Power taking a stake in a new project comes shortly after the Canadian investor CPP Investments announced that it would consolidate its existing direct and indirect offshore wind holdings into the UK-based portfolio company and make Reventus Power its dedicated global offshore wind platform.

Canadian Pension Fund to Consolidate Its Offshore Wind Holdings into UK-Based Reventus Power

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Michael van der Heijden, CEO of Reventus Power, said: “We are delighted to join with EDF Renewables and ESB, two industry leading players, in the Gwynt Glas consortium. Together with our partners, we bring a deep understanding of the floating offshore wind market and we look forward to participating in the forthcoming UK Round 5 Leasing Round.”

“As Reventus Power expands its global offshore wind portfolio, this Celtic Sea opportunity aligns with our ambitions to originate and invest in the development of high quality offshore wind projects globally.”