Crown Estate Scotland has today provided applicants to ScotWind Leasing with the updated technical guidance needed to progress their applications to build Scotland’s next generation of offshore wind farms.
This follows on from the recent completion of the review of the ScotWind option structure on 24 March 2021, and incorporates the outputs including that:
- The same basic pricing structure for option agreements will remain, with an increase in the fees made payable for option agreements
- Applicants must meet 25% of their Supply Chain Development Statement commitments, up from 10%
- Provisions will apply to the resale of options awarded. This will be implemented through a Disposal Premium that will be paid to Crown Estate Scotland if an applicant sells part or all of its interest in a project within three years of signing an option agreement.
The result of the review helps position Scotland as a competitive destination for the investment needed to turn potential projects in to reality.
Applicants now have the technical information and guidance they need to continue their preparations for submitting their proposals. Crown Estate Scotland will continue to engage with the applicants, as well as the wider offshore wind sector and other stakeholders over the coming months as the process continues. The closing date for applications is 16 July 2021.