Joint venture partners Vattenfall and Fred. Olsen Seawind have agreed that Fred. Olsen Seawind will assume full ownership of the Muir Mhòr floating offshore wind farm, subject to regulatory approvals.
The transaction will be structured as a share sale, with Vattenfall divesting its stake in the project. The agreement follows an earlier announcement by Bonheur and remains subject to approval from Crown Estate Scotland, which holds the seabed lease.
Development of Muir Mhòr is expected to continue in line with the current schedule, pending the remaining development consents, including offshore approval.
The decision reflects Vattenfall’s portfolio priorities, with a focus on projects such as Nordlicht I and II in Germany and Zeevonk in the Netherlands. In Scotland, construction of the Clashindarroch II onshore wind farm is ongoing, with first power expected in 2027.
Muir Mhòr is among the earliest commercial-scale floating offshore wind projects in Scotland. Following the award of seabed rights in the 2022 ScotWind leasing round, the project has progressed through development, securing onshore consent in 2025 and currently awaiting offshore consent determination.
Project details
- Location: Approximately 63 km east of Peterhead, eastern Scotland
- Seabed rights awarded: January 2022
- Onshore consent approved: June 2025
- Expected operation: Early 2030s, subject to consent
- Capacity: Up to 1 GW
