‘Why zone 14 (winner Northland Power of £3,900,000 with 1,500MW) didn’t hit the option fee cap of £100,000/sq km?’
ScotWind applicants were required to select an Applicant Valuation per km2 for the seabed they were applying for. The Option Fee was calculated as (Area * Application Valuation).
The options for the Applicant Valuation were:
|Applicant Valuation per km2|
For the area zone 14, the successful applicant provided a valuation of £10,000 per km2 and therefore 390 km2 * £10,000 = £3,900,000.
More information on the ScotWind Leasing round can be found in the Offer Document and Guidance Notes and ScotWind Leasing Offer Document (enclosed).