Wind Energy – Key Leases
Energy giants Equinor and Gwynt Glas have signed landmark lease agreements with The Crown Estate for their respective floating offshore wind projects in the Celtic Sea, marking a major milestone in the UK’s Offshore Wind Leasing Round 5.
The two developers were named preferred bidders in June for sites located off the coasts of South Wales and south-west England, each with a potential capacity of up to 1.5GW. The agreements grant them exclusive rights to advance project development, including detailed design, site surveys, and environmental assessments.
The announcement comes before the Future Energy Wales conference in Newport and is viewed as a strong sign of confidence in the UK’s offshore wind industry amid ongoing global energy market instability.
Round 5 is expected to deliver up to 4.5GW of floating offshore wind capacity across three sites in the Celtic Sea. Research published last year suggests the initiative could create over 5,300 jobs and contribute £1.4 billion to the UK economy. The Crown Estate confirmed it is still working to secure a developer for the third site, with an update expected in due course.
Gwynt Glas — a joint venture between EDF Renewables and ESB — and Equinor will now move toward project design, environmental impact studies, and stakeholder engagement. Upon completing these phases, both companies can apply for full leases to construct and operate the wind farms, which could become operational by the mid-2030s.
The projects also include industry-leading commitments to social, economic, and environmental benefits. At least 3.5% of new workers will be employed as apprentices, and a minimum of 10% of new workers aged 19–24 will come from outside employment, education, or training.
Gus Jaspert, Managing Director for Marine at The Crown Estate, said: “As we edge closer to celebrating 25 years of UK offshore wind in December, the entry of Gwynt Glas and Equinor into agreements for lease in the Celtic Sea is testament to the world-leading industry we see before us today. These projects will be among the largest of their kind anywhere in the world, providing clean energy for millions of homes and supporting thousands of new jobs.”
UK Energy Minister Michael Shanks hailed the deals as a key step forward: “Today’s agreements build upon the UK’s world-leading floating offshore wind legacy in the Celtic Sea, creating thousands of jobs, driving industrial renewal in places like Port Talbot and the South West, and protecting families from volatile fossil fuel markets with homegrown power.”
Melissa Read, Head of Regional Development for UK Renewables at Equinor, said: “Completion of the Agreement for Lease is a positive step forward since the Round 5 auction in June. We look forward to developing this site further and unlocking, together with the industry, the future potential of floating wind in the UK market.”
