REG-Ørsted A/S Ørsted acquires majority stake in Scottish floating wind development project

Oersted A/SAnnouncement

06/04/2022 09:15

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   Ørsted A/S (Orsted)
   Ørsted acquires majority stake in Scottish floating wind development
   project

   06-Apr-2022 / 10:02 CET/CEST
   Dissemination of a Regulatory Announcement, transmitted by EQS Group.
   The issuer is solely responsible for the content of this announcement.

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   6.4.2022 10:02:01 CEST | Ørsted A/S | Investor News

   Ørsted, the world leader in offshore wind, joins a floating wind joint
   venture set up by Simply Blue Group and Subsea 7. The Salamander project
   is a stepping-stone floating wind project off the east coast of Scotland,
   designed to provide the Scottish supply chain with an early capacity
   development opportunity before larger ScotWind projects kick off. The
   project will deploy innovative and cutting-edge floating offshore wind
   technologies to support the cost reduction and learning journey needed for
   the commercial deployment of floating offshore wind.

   Ørsted, the world leader in offshore wind, has acquired a majority stake
   in the 100 MW Salamander floating offshore wind development project on the
   Scottish coast, entering a joint venture (JV) partnership with Simply Blue
   Group, a leading Irish blue economy developer in floating offshore wind,
   wave energy, and low-impact aquaculture. Ørsted will own an 80 % stake in
   the project as Simply Blue Group's newest JV partner on the project,
   alongside minority JV partner Subsea 7.

   Salamander is intended to be progressed through the innovation track of
   Crown Estate Scotland's forthcoming Innovation and Targeted Oil and Gas
   (INTOG) leasing round later this year. Established by Simply Blue Group,
   the project is designed as a stepping stone for floating wind technology,
   providing an opportunity for supply chain businesses to gear up for
   commercial scale floating wind opportunities and help the technology
   become cost competitive as early as possible. The Salamander project
   follows on from other such projects Simply Blue Group is developing with
   major energy operators around Ireland and in Wales. 

   Martin Neubert, Group Deputy CEO and Chief Commercial Officer at Ørsted,
   said: 'I'm pleased that we have agreed with Simply Blue to become a
   partner on this promising project which further expands Ørsted's
   engagement in floating offshore wind and will provide a lot of learnings
   that we can apply on ScotWind and other floating wind projects as the
   technology transitions from demo projects to utility scale. Ørsted has
   been driving the commercialisation of bottom-fixed offshore wind for 30
   years, and during the next decade we want to help make floating offshore
   wind similarly successful through projects such as this one.'

   Sam Roch-Perks, CEO of Simply Blue Group said: 'We are delighted that
   Ørsted is joining with Simply Blue Group and Subsea 7 to develop the
   Salamander project.  Ørsted is a leading player in renewable energy and
   brings considerable expertise to the prestigious Salamander project. As a
   leading floating wind developer, Simply Blue Group wants to contribute to
   the development of the Scottish offshore wind market and its supply chain.
   Scotland is one of the best locations on the planet for the development of
   floating wind projects and we look forward to the collaboration with
   Ørsted on this exciting and important project.'

   Duncan Clark, Head of Region UK at Ørsted, said: 'Today's announcement
   reaffirms Ørsted's commitment to floating offshore wind, a developing
   technology which has an exciting future in Scotland, and we look forward
   to working with Simply Blue Energy and SubSea 7 to realise the potential
   of this exciting project. Developing projects of the type and scale of
   Salamander will provide a smooth transition to delivering utility-scale
   floating offshore wind projects. It will support the cost reduction and
   learning journey that will underpin the commercial deployment of floating
   offshore wind, while developing the infrastructure, supply chain, jobs,
   and skills to that will help Scotland cement its place as a world leader
   in floating offshore wind as the industry grows in the coming decades.'

   Subsea 7, a global leader in the delivery of offshore projects and
   services for the evolving energy industry, has already joined the project
   as a joint venture partner. Subsea 7 brings its proven track record in
   delivering offshore energy projects together with the company's expertise
   and detailed knowledge of the Scottish supply chain.

   John Evans, CEO of Subsea 7, said: 'The intention from the outset was to
   establish Salamander as a project that would be of interest to major
   players in offshore renewable energy. The project will be a key step
   towards fulfilling the ambitions for floating wind offshore in Scotland,
   which has an important role to play in the energy transition and the
   journey to net-zero. We are pleased to have Ørsted join as the majority
   partner and look forward to working together in pursuing this exciting
   opportunity.'

   Green Giraffe acted as advisor to Simply Blue Group and Subsea 7 on the
   Salamander joint venture with Ørsted.

   About the Salamander project
   The Salamander project will utilise innovative and cutting-edge floating
   offshore wind technologies to produce renewable electricity. With an
   ambition to deliver up to 100 MW, the Salamander project will also
   contribute to the Scottish government's target of 11 GW of installed
   offshore wind by 2030 as well as the UK government's target of 1 GW of
   operational floating offshore wind by the same date. 

   The project is at an advanced planning stage and is intended to progress
   within the innovation route of INTOG. The project has focused on its
   deliverability as well as its innovative take on supply chain
   relationships and foundation industrialisation.

   Recently, the Crown Estate Scotland and Marine Scotland announced that
   they expect to launch the INTOG leasing round in June this year. INTOG
   will grant seabed leases through an auction process, which will be split
   into two pots - one for smaller scale innovation projects of less than 100
   MW and one for larger projects linked to oil and gas infrastructure. It is
   anticipated that exclusivity agreements for successful projects will be
   awarded in autumn 2022 with option agreements signed in autumn 2023.

   For further information, please contact:

   Ørsted UK Media Relations
   Paul Haines
   +44 7880 149088 
    1 pauha@orsted.com   

   Simply Blue Group
   Sara Mackeown
   +353861044011 
    2 sara.mackeown@simplybluegroup.com

   Subsea 7
   Tracey Miller 
    3 Tracey.Miller@Subsea7.com

   Ørsted Group Media Relations
   Tom Christiansen
   + 45 99 55 60 17
    4 tomlc@orsted.com 

       About Ørsted A/S

   About Simply Blue Group
   Simply Blue Group, headquartered in Cork, Ireland, is a leading blue
   economy developer focused on replacing fossil fuels with clean ocean
   energy. It develops pioneering blue economy projects - floating offshore
   wind, wave energy, and low-impact aquaculture - all in harmony with the
   oceans. The company has a pipeline of over 9 GW of floating offshore wind
   projects, primarily in the waters off Ireland and the UK. Simply Blue is
   committed to creating new economic opportunities for coastal communities
   and developing projects that co-exist with sustainable fisheries and
   marine conservation. For more, go to:  5 www.simplybluegroup.com  

   About Ørsted
   The Ørsted vision is a world that runs entirely on green energy. Ørsted
   develops, constructs, and operates offshore and onshore wind farms, solar
   farms, energy storage facilities, renewable hydrogen and green fuels
   facilities, and bioenergy plants. Moreover, Ørsted provides energy
   products to its customers. Ørsted is the only energy company in the world
   with a science-based net-zero emissions target as validated by the Science
   Based Targets initiative (SBTi). Ørsted ranks as the world's most
   sustainable energy company in Corporate Knights' 2022 index of the Global
   100 most sustainable corporations in the world and is recognised on the
   CDP Climate Change A List as a global leader on climate action.
   Headquartered in Denmark, Ørsted employs 6,836 people. Ørsted's shares are
   listed on Nasdaq Copenhagen (Orsted). In 2021, the group's revenue was DKK
   77.7 billion (EUR 10.4 billion). Visit  6 orsted.com or follow us on
   Facebook, LinkedIn, Instagram, and Twitter.

   About Subsea 7
   Subsea 7 is a global leader in the delivery of offshore projects and
   services for the evolving energy industry. We create sustainable value by
   being the industry's partner and employer of choice in delivering the
   efficient offshore solutions the world needs. To find out more, visit
    7 www.subsea7.com

       Attachments

     •  8 Press Release Salamander.pdf

   News Source: Ritzau

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   ISIN:          DK0060094928
   Category Code: MSCM
   TIDM:          Orsted
   Sequence No.:  154005
   EQS News ID:   1321691


    
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References

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