Equinor, EDF-ESB Win UK Celtic Sea Floating Wind Leases

The Crown Estate has awarded seabed leases to Equinor and the Gwynt Glas joint venture between EDF Renewables UK and ESB to develop two 1.5 gigawatt floating wind farms in the Celtic Sea, off the coasts of Wales and South West England. These projects are part of the UK’s effort to decarbonize its electricity sector by 2030, aiming to increase offshore wind capacity to 43-50 GW by the end of the decade. The floating wind farms will be among the largest globally, unlocking thousands of jobs in regions like Port Talbot and Bristol and contributing significantly to the UK economy. Both Equinor and Gwynt Glas will pay annual lease fees of £350 per megawatt, totaling £525,000 per project per year. A third 1.5 GW project area remains reserved, with further details expected later in 2025, potentially bringing the total capacity to 4.5 GW, enough to power over four million homes. These developments underscore the UK's leadership in floating offshore wind technology and its commitment to clean energy and economic growth in the region.