Sumitomo takes stake in 1.5GW Gwynt Glas floating wind project
Three equal partners now hold the Welsh floating offshore wind development, one of the largest of its kind in Europe.
By Matthias Blank · drafted with the Vantage newsroom system, approved before publication
Sumitomo has taken a stake in the 1.5GW Gwynt Glas floating offshore wind project off Wales, joining two existing partners in a three-way equal split, per Renews.biz. The entry of a major Japanese conglomerate into the cap table signals continued international appetite for large-scale European floating wind, even as the sector faces cost and financing headwinds.
Gwynt Glas sits at the high end of the floating offshore wind development pipeline by capacity. Floating projects at this scale require specialised installation vessels, a constraint underlined separately by Cadeler's $930m order for two new wind installation vessels, reported by Recharge News.
Separately, Recharge News published analysis on likely winners and losers in the upcoming UK offshore wind CfD auction, a round that will set the commercial backdrop for projects competing alongside Gwynt Glas for capital and grid connection slots.
Source: Renews.biz
Photo by Expect Best on Pexels.
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