Fid Financial Close

Cerulean Winds is targeting a final investment decision (FID) for its Cerulean Aspen floating offshore wind farm in 2026. The Aspen project is one of three 1GW floating wind farms – alongside Beech and Cedar – that make up the 3GW North Sea Renewables Grid (NSRG) being developed to supply low‑carbon power to oil and gas platforms and export surplus electricity. The developer reports that it has recently completed offshore survey work across all three projects, a key prerequisite for progressing detailed environmental and technical assessments. These activities have helped to keep Aspen on schedule to submit its Environmental Impact Assessment (EIA) and then move towards FID in 2026, with first operations targeted before 2030. In broader messaging about Aspen, Cerulean Winds has indicated that the project is expected to drive around £11 billion of investment. While this figure represents a projected total investment associated with the project rather than a committed financing package, it underscores the scale of capital that would be unlocked once the FID is taken. The path to FID will involve completing and submitting the EIA, securing necessary consents, and finalising the project’s financing structure so that construction can proceed. For now, the project remains in early development, with FID still described as a future milestone rather than a decision already taken, but both the NSRG-wide timeline and the Aspen-specific update consistently point to 2026 as the target year for this crucial funding decision.