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Transactions - JULY 19, 2021

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Cerulean Winds and px Group to develop floating wind-and-hydrogen project

by Released

Green infrastructure developer Cerulean Winds has signed an agreement with px Group, the U.K. operator of large-scale industrial facilities, regarding plans for an integrated 200-turbine floating wind-and-hydrogen development in the North Sea.

The Cerulean proposal has the capacity to generate 3 gigawatt hours of power, enough to provide electricity to the majority of offshore facilities, reducing carbon dioxide emissions by more than half from 2025. An excess of 1.5 gigawatt hours of power would be diverted to onshore green hydrogen plants.

The three onshore hydrogen sites would be located in the North of England, Northeast Scotland and on Shetland.

Under the agreement, px Group would be responsible for lease and ownership arrangements for the sites and for obtaining planning permissions and permitting. This would include obtaining the outline approvals prior to more detailed engagement with local government, regulatory and environmental stakeholders. In additi

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