Overview
- The Crown Estate named Ocean Winds for the final Round 5 area, completing a three‑site portfolio targeting up to 4.5 GW with Equinor and Gwynt Glas.
- The site off England’s south‑west coast is reported to support roughly 1.5 GW, with all three areas planned for floating platforms that could deliver the first gigawatt‑scale floating wind farms.
- The selection follows a June auction that left one area unassigned and was resolved through a direct award under the Procurement Act 2023 after market engagement, while Equinor and Gwynt Glas signed leases in October.
- Ocean Winds and the Crown Estate will finalize an Agreement for Lease by spring 2026, with reported lease fees set at £350 per MW per year, totaling about £525,000 annually over a ten‑year term.
- Developers must deliver onshore benefits including new apprenticeships, a 3.5% workforce contribution and a 10% quota for 19–24 year‑olds not in education, employment or training, with ports to be named for turbine assembly and deployment such as Port Talbot or the Port of Bristol, and Crown Estate research points to more than 5,000 jobs and a £1.4 billion economic boost.