Vattenfall partners with Fred. Olsen Renewables for ScotWind offshore leasing bid

  • 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.”

About Fred.Olsen Renewables

  • Fred. Olsen Renewables is a developer, owner and operator of renewable energy with a strong history, with 12 operating wind farms and a total project pipeline of ~4 GW in onshore and offshore wind.
  • The company is one of the leading independent renewable power producers in the UK and has an operational wind farm portfolio comprising a total generating capacity of 529.7 MW in Scotland alone. It has been developing and operating wind farms in Scotland since the mid-1990’s, including bringing forward Scotland’s first consented wind farm.
  • It is one of very few developers that take a project all the way from initiation and development, through to operation and ultimately decommissioning. To date, the company has a 100% track record of success – supporting every project identified into consent and/or operation. 
  •  Fred. Olsen-related companies employ more than 2000 people within renewables and have in-depth experience from offshore wind -through Fred. Olsen Renewables’ offshore wind development activities in Ireland, Norway and the US through the wind service companies Fred. Olsen Windcarrier and Global Wind Service.
  • Further information can be found at


About Vattenfall

  • Vattenfall is one of Europe’s largest producers and retailers of electricity and heat with approximately 20,000 employees.  For more than 100 years we have electrified industries, supplied energy to people's homes and modernised our way of living through innovation and cooperation.  We now want to make fossil fuel-free living possible within one generation.
  • Vattenfall has been working in the UK for more than ten years, developing fossil fuel-free energy projects. We have grown our wind business from one project in 2008 to 11 today. We also continue to grow our district heating and power networks businesses, in line with our purpose of powering climate smarter living.
  • Vattenfall currently operates more than 1GW of wind energy capacity in the UK. In Scotland our operational wind farms comprise a total generating capacity of 175MW, powering over 130,000 homes. This includes the 96.8MW European Offshore Wind Deployment Centre in Aberdeen Bay which offers the domestic supply chain the chance to test and demonstrate the latest innovations in a real-world environment. Vattenfall is also constructing South Kyle, a 240MW onshore wind project in South West Scotland.

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