Sweden’s Hexicon wins landmark floating wind contract for difference in UK

Stockholm-based floating offshore wind developer Hexicon has seen its 32 MW TwinHub project in the Celtic Sea become the first ever floating wind scheme to secure a contract for difference (CfD) in the UK.

Hexicon’s project secured 15-year revenue support from the UK government at a strike price of £87.30 ($104.86)/MWh in the fourth allocation round, which ended with 11 GW of renewable energy projects winning government backing. 

The company has developed a floater called TwinWind that allows for two full size turbines to be placed on a single foundation, reportedly enabling more energy to be generated in a given sea area whilst reducing the environmental impact of a single foundation. 

Hexicon said the TwinHub project, which is supported by US engineering firm Bechtel, will help kick start the floating wind sector in the South West and pave the way for larger scale commercial projects in the Celtic Sea, utilising the TwinWind and other floating technologies. 

The project is expected to be commissioned and exporting power between 2025 and 2027. It will aim to maximise the use of local supply chains, including Falmouth Port, which could play an important role in the project’s development and ongoing operation and maintenance services.

“We have today reached a critical target for the TwinHub project, that should be particularly savoured by our own Hexicon team who have worked diligently to deliver this hard fought win.

“Looking ahead, we are now extremely keen to push even harder to bring more innovative projects to market, all ultimately helping to promote local and regional economic growth, and drive down the cost of green energy for consumers” said James Brown, managing director of TwinHub.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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