Europe | May 12, 2025

Aspen wind project to bring $14.4 B investment

Cerulean Winds' 1 GW floating wind farm will generate over $14.4 B investment, support 1000 jobs, and boost Scotland’s clean energy economy.

 

offshore turbines_Shutterstock_2564353723

Image for illustrative purposes

Scotland: Cerulean Winds has announced that its 1 GW Aspen floating offshore wind project, located in the UK’s Central North Sea, is set to generate a massive $14.4 B (£10.9 B) in investment over its 50-year lifetime. The project is also expected to support over 1000 skilled jobs across the UK.

Delivered through a consortium including NOV, Siemens Energy, Bilfinger, Ocean Installer, and Haventus, the project aims to inject $1.3 B (£1 B) into the UK economy and draw in nearly $1.3 B (£1 B) more in foreign investment. With operations centered in Scotland, Cerulean Winds and its partners aim to build a robust supply chain for floating offshore wind (FLOW), anchoring long-term economic value in the UK.

Founding director Dan Jackson said the team’s unified vision allows them to forecast Aspen’s benefits with confidence. The Ardersier Energy Transition Facility will be the main base for assembling and operating the wind farm, which is the UK’s first dedicated FLOW hub.

Scottish Energy Minister Michael Shanks, visiting the Ardersier facility, praised the project’s contribution to Scotland’s clean energy strategy. He highlighted its role in creating sustainable employment and accelerating the shift to renewable power.

The Aspen project’s financial breakdown includes $7.7 B (£5.9 B) for development and construction, followed by $130 M (£100 M) annually over five decades. It is projected to contribute $5.4 B (£4.1 B) in Gross Value Added (GVA) to the UK economy, with $3.7 B (£2.8 B) benefiting Scotland.

Aspen is the first of Cerulean’s three planned sites, with Beech and Cedar also in the pipeline to help meet the UK’s 50 GW offshore wind target by 2030.

Source: renews.biz