- Fred. Olsen Seawind will assume 100% ownership of the Muir Mhòr floating offshore wind project via a share sale from Vattenfall, pending regulatory approvals.
- Project capacity up to 1 GW; expected operation in the early 2030s, subject to remaining consents including offshore consent.
- Seabed rights awarded in ScotWind 2022 and onshore consent approved June 2025; ownership change requires Crown Estate Scotland approval.
- Vattenfall is refocusing on other offshore and onshore wind developments such as Nordlicht I/II, Zeevonk and Clashindarroch II.
Ownership change
Joint venture partners Vattenfall and Fred. Olsen Seawind have agreed that Fred. Olsen Seawind will acquire Vattenfall’s share in the Muir Mhòr floating offshore wind project via a share sale, subject to necessary regulatory approvals and Crown Estate Scotland consent for the seabed lease.
Approvals and schedule
The development will continue on schedule pending remaining development consents, notably the offshore consent; partners view the ownership transfer as the most efficient route to complete development and enable entry into an early allocation round.
Project details
Muir Mhòr secured seabed rights in the 2022 ScotWind round, received onshore consent in June 2025, is located about 63 km east of Peterhead, and is planned to have up to 1 GW capacity with expected operation in the early 2030s, subject to consent approvals.
Vattenfall context
The transaction reflects Vattenfall’s portfolio priorities as it focuses on other offshore projects such as Nordlicht I and II and Zeevonk, and onshore activity including the Clashindarroch II wind farm, which is planned to deliver first power in 2027.
