Fid Financial Close

The Green Volt floating offshore wind farm is currently progressing towards its Final Investment Decision (FID), which is now estimated to be taken in 2026. Scottish Development International’s January 2026 update on the project notes that, following the award of a Contract for Difference (CfD) in the UK government’s Allocation Round 6 in September 2024 and the securing of both onshore and offshore consents, the developers expect to reach FID in 2026, with commercial operations targeted for 2030. This places the FID as the next major gating milestone following consent and revenue support, enabling full-scale construction to proceed once financing is secured.[1] Pre-FID financing work is described as actively under way. Flotation Energy’s chief executive explains that, after securing the CfD, the project is working towards raising project finance, with financial advisers appointed and a bank launch planned in spring/summer to secure the necessary funding.[2] Separately, earlier comments from Flotation Energy’s commercial manager indicated an expectation to reach FID in 2025, and a project spokesperson later declined to confirm whether that 2025 timetable remained valid, implying that the schedule was under review.[3] Taken together, these sources show the FID as not yet achieved but as a central near-term objective, with the most recent official indication pointing to a 2026 decision that will lock in the capital structure for this approximately multi‑billion‑pound project and clear the way for construction and subsequent first power from 2029–2030.[1][2][3]