Lamprell, an Emirati construction company, has signed a MoU with NOV, a US-based firm, to supply three offshore floating wind farms to Cerulean Winds, a British renewable energy developer. According to the provisions of the MoU, Lamprell will provide fabrication, assembly, and outfitting services for the construction of NOV’s tri-floaters, which will act as the floating foundations for the three wind farms. Each wind farm has a capacity of 1 GW.

NOV and Lamprell will collaborate to develop local content goals in the UK. The partners will also engage with suppliers and yards across the country that are interested in participating in the projects and can provide suitable solutions. In June 2021, Cerulean submitted plans for a floating wind turbine project west of Shetland and in the Central North Sea with a capacity of more than 3 GW. Cerulean selected NOV to provide fabrication services, as well as floating and mooring systems, for the proposed project. If permitted, the project will be operational in 2026.

In March 2022, UK-based independent renewable power company Anesco secured a £12m revolving credit facility from Santander UK. Anesco plans to use these funds for expansion in the UK and Europe. This finance would support its pipeline of various renewable energy projects which includes five battery storage projects and three solar farms that are at the ready-to-build stage.