Fred Olsen Seawind has reached an agreement to purchase the 50 per cent stake held by Vattenfall in the Muir Mhòr floating offshore wind farm in Scotland.
This share sale will result in the company, a subsidiary of Bonheur, assuming 100 per cent ownership of the project pending regulatory approval.
Economic ownership was established on a full basis from December 31, 2025, using the investment book value from that date.
The project is situated approximately 63 kilometres from Peterhead off the Aberdeenshire coast and was granted seabed rights in 2022. These rights were obtained through the ScotWind leasing round for what is described as one of the first commercial-scale floating offshore wind sites.
Generation of power is on track to begin in the early 2030s, according to the developers. Once operational, it is anticipated to generate up to one GW of power.
The project is also seeking an early allocation round as it moves toward its scheduled start date.