Fid Financial Close

Buchan Offshore Wind is targeting its Final Investment Decision (FID) in 2029, marking the key transition point from development into construction for this near‑1GW commercial‑scale floating offshore wind farm. An official project update on the appointment of Debbie Olson as Head of Consents and Land explains that her role includes steering the project team through major milestones such as consent determination in 2026, FID in 2029, and then the move into construction by the end of the decade. This framing makes clear that the 2029 FID is a core element of the project’s delivery strategy and internal roadmap, rather than a vague long‑term aspiration.[1] A sector overview from Recharge independently corroborates this timing, reporting that the Buchan consortium is “aiming for a final investment decision in 2029”. The same source notes that planning applications were submitted in 2025 and that the project expects a determination of development consent by mid‑2026, with the consortium hoping to be CfD‑eligible from 2027 onwards, assuming a positive consent decision.[2] Together, these sources show a linked chain of milestones: submission and determination of development consents, pursuit of revenue support, and then FID in 2029 enabling the shift into construction toward the end of the decade. This investment decision will underpin a floating project of around 1GW capacity, located roughly 70–75km off north‑eastern Scotland, using BW Ideol’s concrete barge‑type foundations and aiming to support Scottish supply chain and job creation.[1][2]