NextGen Consortium targets ScotWind success

 

20th July 2021, Fife

Parkwinds Belwind wind farm.tif

A group of leading offshore wind companies and funds have today announced their joint participation in Crown Estate Scotland’s ScotWind leasing process. The NextGen consortium, led by Quaybridge Scotland, Parkwind and Maple Power is backed by a number of strategic partners including BlackRock Real Assets and Sumitomo Corporation.

 

The NextGen consortium’s innovative approach to offshore wind development in Scotland will ensure the creation of high value local jobs and opportunities for meaningful community involvement. From their base in Quaybridge’s Fife office, NextGen has worked closely with stakeholders across Scotland to complete early development work, pilot innovative supply chain interventions and build community level relationships for the last three years. 

Image: Parkwind's Belwind wind farm, operational since 2010. © mennomulder.com 

The consortium has initiated development of sites off the coast of Scotland with the objective of safely and successfully delivering the first ScotWind projects into operation. Critical path offshore ornithological, marine mammal and metocean surveys have already been completed by the consortium, reducing the time needed to bring the projects into construction.

Leading European offshore wind independent developer Parkwind brings a full suite of development, construction and operational experience to the consortium gained from 10 years of offshore projects in Belgium, Germany and Ireland.

Maple Power Ltd is a 50:50 joint venture between Enbridge Inc. and Canada Pension Plan Investment Board (CPP Investments), providing services to a portfolio of 3.2GW (gross) of European offshore wind investments in development, construction and operations.

 

Commenting on the NextGen ScotWind application, Strategy Manager at Quaybridge Scotland, Zoe Barnes, said “We’re delighted to be working together with such a strong group of partner companies to help deliver our vision for Next Generation Offshore Wind; one where offshore wind fulfils its full societal potential. If we are successful in ScotWind, NextGen will raise the bar on what offshore wind can be in Scotland – delivering positive change in local communities and the Scottish economy, all in service of an accelerated transition towards Net Zero.”

François Van Leeuw, co-CEO at Parkwind, added: “Offshore wind has always been a significant contributor to local economic activity. With Next Generation Offshore Wind, we aim to bring local value creation to the forefront of our green energy mission.  Together, we want to demonstrate that offshore wind is a key contributor to a carbon free future and a strong economy.”

Toby Edmonds, CEO at Maple Power, added: “We would like to thank Crown Estate Scotland and the Scottish Government for offering an industry leading and highly attractive opportunity. We believe that this is a first-class tender process that gives developers like us an opportunity to put forward well-considered proposals targeted at achieving Scotland’s objectives. We are confident that, together with our partners and local industry, we will deliver world-class offshore wind projects for Scotland.”

The consortium is also backed by a number of reputable partners, including BlackRock’s latest Global Renewable Power strategy and Sumitomo Corporation.  BlackRock has a strong presence in Scotland, with over 750 employees and the BlackRock Renewable Power platform has invested in near 300 wind and solar projects globally. Sumitomo Corporation, one of Japan’s most prominent investment groups has a long-standing history in offshore wind investments throughout Europe including the UK. 

 

Notes to Editors

  1. Quaybridge Scotland brings together the right competence and commitment needed to deliver on the UK Offshore Wind Sector Deal.  We’ve aggregated decades of frontline offshore wind experience from some of the best developers and engineers in the business.  We are backed by investors with a proven track record in the industry and the financial clout needed to deliver effective and rapid project development. www.quaybridge.com
     

  2. Parkwind is one of Europe’s leading companies in the development, financing, construction and operation of offshore wind farms. Parkwind operates 771 MW in Belgian waters, and has secured a development pipeline of approximately 1.1 GW across Europe, pursuing a develop-build-hold strategy with rapidly growing teams in Belgium, Ireland & Germany. www.parkwind.be
     

  3. Enbridge Inc. is a leading North American energy infrastructure company. We safely and reliably deliver the energy people need and want to fuel quality of life. Our core businesses include Liquids Pipelines, which transports approximately 25 percent of the crude oil produced in North America; Gas Transmission and Midstream, which transports approximately 20 percent of the natural gas consumed in the U.S.; Gas Distribution and Storage, which serves approximately 3.8 million retail customers in Ontario and Quebec; and Renewable Power Generation, which generates approximately 1,763 MW of net renewable power in North America and Europe. The Company's common shares trade on the Toronto and New York stock exchanges under the symbol ENB. www.enbridge.com
     

  4. Canada Pension Plan Investment Board (CPP Investments™) is a professional investment management organization that manages the Fund in the best interest of the more than 20 million contributors and beneficiaries of the Canada Pension Plan. In order to build diversified portfolios of assets, investments are made around the world in public equities, private equities, real estate, infrastructure and fixed income. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City, San Francisco, São Paulo and Sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm’s length from governments. At March 31, 2021, the Fund totalled C$497.2 billion. www.cppinvestments.com
     

  5. BlackRock’s Global Renewable Power platform has invested in over 300 wind and solar projects across 14 countries in 4 continents. The Global Renewable Power team consists of 54 professionals, with an average of 20 years of senior investment and technical expertise. The team manages over US$9 billion of client capital, with an emphasis on globally diversified portfolios, measurable climate impact and differentiated sourcing. https://www.blackrock.com/institutions/en-gb/strategies/alternatives/real-assets/infrastructure/global-renewable-power
     

  6. Sumitomo Corporation (“SC”) is a leading Fortune 500 global trading and business investment company with 135 locations (Japan: 22, Overseas: 113) in 66 countries and regions. The entire SC Group consists of more than 900 companies. SC conducts commodity transactions in all industries utilizing worldwide networks, provides customers with financing, serves as an organizer and a coordinator for various projects, and invests in companies to promote greater growth potential. SC’s core business areas include seven business fields: Infrastructure; Energy Innovation; Metal Products; Transportation & Construction Systems; Media & Digital; Living Related & Real Estate; and Mineral Resources, Energy, Chemical & Electronics. https://www.sumitomocorp.com/en/jp 
     

  7. Press enquires: joe.phillips@quaybridge.com