• Vattenfall and Fred. Olsen Renewables announce 50/50 Joint Venture Partnership to bid in Crown Estate Scotland’s ScotWind offshore leasing round
• Partnership aims to develop projects with strong environmental and socio-economic benefits in Scotland at best value to consumers
• Collaboration combines industry leading expertise, strong track record of delivering renewable energy projects in Scotland, and exemplary engagement with local supply chain and communities

Fred. Olsen Renewables (a wholly owned subsidiary of Bonheur ASA), and Vattenfall have today formed a 50/50 Joint Venture Partnership ahead of the ScotWind leasing round. The two companies will collaborate in their bid to deliver the next generation of Scottish offshore wind farms – providing value for money for consumers and delivering for the Scottish economy, communities, and the environment.

The partnership reflects both companies’ commitment to helping Scotland progress to net zero and support the country’s ambition to become a world leader in offshore wind. The bid will focus on achieving maximum value for the Scottish economy - creating sustainable supply chain in Scotland and bring long term economic benefits.

By combining the skills and experience of two of Europe’s leading renewable energy developers, this significant industry collaboration will maximise the potential that the bid can deliver and provides the opportunity to demonstrate how Scotland’s renewable energy ambitions can be truly realised when industry, government and communities work together. 

Helene Bistrom, Head of Business Area Wind at Vattenfall, said:
“This Joint Venture brings together two companies with strong track records in Scotland. We fundamentally understand the importance of developing projects which benefit the local economy and environment while ensuring the best possible value for bill payers.

“Vattenfall’s goal is to enable fossil-free living within one generation, and we are very excited to be working with Fred. Olsen Renewables to bring the best of our experience together to create a strong offer for Scotland.”

Anette Olsen, Managing Director of Bonheur ASA and Proprietor of Fred. Olsen & Co. said:
“30 years ago, our journey in renewables started in Scotland. Today, Fred. Olsen related companies employ more than 400 people in Scotland. Our focus has always been to create local value, and together with Vattenfall we are confident that we can build on our joint presence in Scotland and deliver offshore wind with considerable local benefits.

“We are very pleased with this partnership, which builds on long standing relations between Vattenfall and Fred. Olsen-related companies. Through our partnership we will provide opportunities and create maximum value for the Scottish economy, local suppliers and communities.”

KeyFacts Energy: Vattenfall UK country profile