Simply Blue Group has announced further financial backing of €25 million from funds managed by Octopus Energy’s generation arm.

An additional €2.5 million has also been raised from other investors bringing the total investment to €27.5 million.

Simply Blue Group, headquartered in Cork, is an Irish blue economy project developer, developing pioneering projects in floating offshore wind, e-Fuels, wave energy and low-impact aquaculture. The group currently has a global pipeline of over 10GW of floating offshore wind projects.

The investment will support Simply Blue Group’s floating offshore wind projects and blue economy projects, such as the development of e-Fuels and energy parks.

This is the second round of funding from Octopus into Simply Blue Group, having announced a €15 million investment in August 2021.

The Cork headquartered Simply Blue Group Team

This investment by Octopus was made on behalf of Octopus Renewables Infrastructure Trust (ORIT) and the Sky fund (ORI SCSp). Octopus manages over 3 GW of renewable energy assets like wind and solar farms worth £5bn spanning 11 countries.

Sam Roch-Perks, Group Chief Executive Officer, Simply Blue Group said: “We welcome the reinvestment by Octopus Energy Generation, which demonstrates the company’s support to Simply Blue Group and the renewables sector. With our strong pipeline of global projects, this investment will enable us to grow our pipeline even further and move forward with a range of international projects outside of floating offshore wind.”

Chris Gaydon, Investment Director at Octopus Energy Generation, said: “The floating offshore wind sector will undoubtedly play a vital role in the clean energy system of the future. Just over a year after we first invested in Simply Blue, their development pipeline of floating offshore wind projects has grown significantly. Given falling costs, improving technology, and growing investment, this area is going from strength to strength. We’re right at the forefront of this innovative and fast-growing market, working with SBG to accelerate its growth and expand its development pipeline.”

Simply Blue Group in Cork has announced the appointments of Jeremy Gault as Project Manager for the company’s Emerald and Western Star floating offshore wind projects and Marie Gleeson as External Affairs & Stakeholder Liaison lead for Simply Blue Group’s Western Star project.

Headquartered in Cork, Ireland, Simply Blue Group employs more than 100 people with unique experience in offshore wind energy. Floating offshore wind power is now a dominant segment in Simply Blue Group's portfolio, with an impressive pipeline of 10 GW in floating offshore wind projects around the world. The company has also set its sights on the development of wave energy technology, low-impact aquaculture and has recently entered the e-fuel market.

Jeremy Gault has over 25 years of experience working in the marine and coastal domain, with a long track record in project management in the sustainable Blue Economy arena. He has successfully managed a range of European, national and local inter-disciplinary projects by bridging interfaces such as engineering and science. Originally trained as a mining engineer, Jeremy’s leadership, team building, and management skills delivered significant capacity building in his previous senior management role in MaREI, the Irish National Centre of Excellence in Climate, Energy and the Marine.

Jeremy Gault has over 25 years of experience working in the marine and coastal domain

Jeremy holds a degree in Mining Engineering from the University of Nottingham and a Masters in Marine Resource Management from Heriot-Watt University.

Marie Gleeson joins Simply Blue Group with more than twenty years of military service at sea and ashore as a retired Irish Naval Naval Officer. She also served overseas in Chad with the United Nations. Marie has more than a decade of experience in innovation, public sector transformation and aligning public policy with strategy development and direction. She founded NavMar Leadership in 2019, acting as Principal Consultant providing leadership development, Executive Coaching, and strategy consultancy services. Marie has in-depth knowledge of marine stakeholders in Ireland and serves on the Board of Bord Iascaigh Mhara.

Marie holds a MSc in Human Resource Leadership, a Postgraduate Diploma in Corporate Governance, a Higher Diploma in Personnel Management, a BSc in Anatomy and Physiology and a Postgraduate Certificate in Innovation and Enterprise Development.

Ørsted, the world leader in offshore wind, has acquired a majority stake in the 100 MW Salamander floating offshore wind development project on the Scottish coast, entering a joint venture (JV) partnership with Simply Blue Group, a leading Irish blue economy developer in floating offshore wind, wave energy and low-impact aquaculture. Ørsted will own an 80% stake in the project as Simply Blue Group’s newest JV partner on the project, alongside minority JV partner, Subsea 7.

Salamander is intended to be progressed through the innovation track of Crown Estate Scotland’s forthcoming Innovation and Targeted Oil and Gas (INTOG) leasing round later this year. Established by Simply Blue Group, the project is designed as a stepping-stone for floating wind technology, providing an opportunity for supply chain businesses to gear up for commercial scale floating wind opportunities and help the technology become cost competitive as early as possible. The Salamander project follows on from other such projects Simply Blue Group is developing with major energy operators around Ireland and in Wales.

Martin Neubert, Group Deputy CEO and Chief Commercial Officer at Ørsted, said: “I’m pleased that we have agreed with Simply Blue to become a partner on this promising project which further expands Ørsted’s engagement in floating offshore wind and will provide a lot of learnings that we can apply on Scotwind and other floating wind projects as the technology transitions from demo projects to utility scale. Ørsted has been driving the commercialisation of bottom-fixed offshore wind for 30 years, and during the next decade we want to help make floating offshore wind similarly successful through projects such as this one.”

Hornsea One - the world's currently largest offshore wind farm

Sam Roch-Perks, CEO of Simply Blue Group said: “We are delighted that Ørsted is joining with Simply Blue Group and Subsea 7 to develop the Salamander project. Ørsted is a leading player in renewable energy and brings considerable expertise to the prestigious Salamander project. As a leading floating wind developer, Simply Blue Group wants to contribute to the development of the Scottish Offshore wind market and its supply chain. Scotland is one of the best locations on the planet for the development of floating wind projects and we look forward to the collaboration with Ørsted on this exciting and important project.”

Duncan Clark, Head of Region UK for Ørsted said: “Today’s announcement reaffirms Ørsted’s commitment to floating offshore wind, a developing technology which has an exciting future in Scotland and we look forward to working with Simply Blue Group and Subsea 7 to realise the potential of this exciting project.

“Developing projects of the type and scale of Salamander will provide a smooth transition to delivering utility-scale floating offshore wind projects. It will support the cost reduction and learning journey that will underpin the commercial deployment of floating offshore wind, whilst developing the infrastructure, supply chain, jobs and skills that will help Scotland cement its place as a world leader in floating offshore wind as the industry grows in the coming decades.”

Subsea 7, a global leader in the delivery of offshore projects and services for the evolving energy industry has already joined the project as a joint venture partner. Subsea 7 brings its proven track record in delivering offshore energy projects, together with the company’s expertise and detailed knowledge of the Scottish supply chain.

John Evans, CEO of Subsea 7 said: “The intention from the outset was to establish Salamander as a project that would be of interest to major players in offshore renewable energy. The project will be a key step towards fulfilling the ambitions for floating wind offshore Scotland, which has an important role to play in the Energy Transition and the journey to Net Zero. We are pleased to have Ørsted join as the majority partner and look forward to working together in pursuing this exciting opportunity.”

Green Giraffe acted as advisor to Simply Blue Group and Subsea 7 on the Salamander joint venture with Ørsted.

Simply Blue Group a leading Irish Blue economy developer in floating offshore wind, wave energy and low impact aquaculture, have announced their latest offshore floating wind project ‘Nomadic Offshore Wind’ off Northern Ireland and a related green energy deal with MJM Renewables at MJM Ballykelly.

The Nomadic Offshore Wind project will bring renewable offshore wind energy as a primary energy source for what is to become a renewable energy hub at the MJM Renewables site, Ballykelly. This ‘green’ energy will power projects within the hub including manufacturing facilities, hydrogen production, a data centre and other advanced research and development industries.

To be located off Northern Ireland, Nomadic Offshore Wind will utilise floating offshore wind technology rather than fixed bottom structures, allowing positioning in deeper offshore areas with higher wind potential away from coastal shorelines, shipping lanes and fishing grounds.

Speaking about the agreement between MJM Renewables and Simply Blue Group, Economy Minister Gordon Lyons said: “It is great to see MJM Renewables, a home-grown company, playing a pivotal role in tackling climate change in Northern Ireland.”

Minister Lyons continued: “This project sits well with the ethos of Northern Ireland’s new Energy Strategy, The Path to Net Zero Energy. With the current rise in energy prices being felt by businesses and the public alike, our plan to phase out fossil fuels to ensure more of the money we spend on energy stays in the local economy, helping the economy to prosper whilst creating jobs, has never been more prevalent.”

MJM Renewables Director Naoimh McConville said: “We are supportive of Northern Ireland’s energy strategy, and believe it is even more critical than ever to ensure secure, affordable, and green energy for future generations. It has been an exciting time for us working with Simply Blue Group to bring this project to Northern Ireland. The renewable energy hub will be the catalyst to attract and develop the green economy in the Northwest, and it will help drive the shift to a zero-carbon economy and society.”

Sam Roch-Perks, CEO of Simply Blue Group said: “We are delighted to add another offshore wind project to our portfolio. Northern Ireland represents huge opportunities for the renewable sector, and we look forward to combining our expertise and working with MJM Renewables to help realise their vision for a green energy hub at MJM Ballykelly.”

Shell has signed an agreement with Irish leading blue economy developer Simply Blue Group to acquire a 51% share of their Western Star venture, which seeks to develop a floating wind farm off the Clare coast in Ireland. This follows a similar agreement earlier this year to jointly develop the Emerald floating wind project off the south coast of Ireland. The Western Star Joint Venture will be developed by Simply Blue Group personnel and Shell floating wind experts, with the project office based at Simply Blue Group Headquarters in Cork.

The project aims to harness the vast floating wind potential in the Atlantic Ocean off the west coast of Ireland. The joint venture will seek to co-develop up to 1.35GW in total: 300MW-450MW in the first phase with 700MW-900MW to follow. This is equivalent to powering over one million Irish homes.

Hessel de Jong, Offshore Wind General Manager Europe, Shell, said: “Shell has a clear ambition to be a net-zero emissions energy business by 2050, in step with society. We aim to provide more renewable power to consumers and businesses alike. Working alongside coastal communities to create shared value is key to success for both the Western Star floating wind project and the previously announced Emerald project, which is why we have chosen to work with Simply Blue Group.”

Hessel de Jong - Shell has a clear ambition to be a net-zero emissions energy business by 2050

Hugh Kelly, Co-Founder and Chief Commercial Director, Simply Blue Group, said, “There is tremendous wind potential off the West Coast of Ireland and Simply Blue Group are delighted to partner once again with Shell to jointly develop the Western Star project. The project will utilise floating offshore wind technology to produce zero-carbon electricity and will greatly help Ireland progress towards a green energy future with domestically sourced sustainable electricity delivering both environmental and economic benefits to the entire country. Simply Blue Group are committed to developing floating offshore wind projects in Ireland.”

Floating wind technology can be installed in deeper waters than fixed wind turbines allowing this project to be placed 35km – 60km offshore, keeping visual impact to a minimum. The first phase of the project could include between 15MW and 18MW turbines. The assembly, installation and deployment of these turbines could stimulate hundreds of high-quality jobs in the local supply chain. Long-term operations and maintenance of the turbines will also require local skills and services to support this industry.

Minister for Foreign Affairs Simon Coveney has welcomed Irish offshore energy Simply Blue’s deal with multinational Shell to develop its floating wind farm in the Celtic Sea.

Simply Blue Energy and Shell confirmed today that the multinational is acquiring a 51 per cent share in the Emerald project off Kinsale, Co Cork.

It represents Shell’s first return to the Irish energy market since it sold off its controversial Corrib Gas project in North Mayo.

Simply Blue Energy says the joint venture will use floating wind technology to develop 300MW of installed capacity initially.

As Afloat reported last July, the Irish renewable energy company was exploring the development of this island's first floating offshore wind farm close to the Kinsale gas field.

It says it will have the potential to scale-up to a total installed capacity of 1GW - equivalent to powering 800,000 Irish homes or the capacity of the Moneypoint power station, Ireland’s largest electricity generation station, it says.

Floating wind technology can be installed in deeper waters than fixed wind turbines allowing this project to be placed 35km – 60km offshore, reducing visual impacts, it points out.

It says that “depending on the size of turbines selected, the first phase of the project will include between 15 and 25 turbines”.

“The assembly, installation and deployment of these turbines could stimulate hundreds of high-quality jobs in the local supply chain,”it says, with long-term operations and maintenance of the turbines requiring local skills and services in Cork harbour for “up to 25 years”.

Colin Crooks, Shell’s vice-president for offshore wind, said in a statement: “At Shell we aim to build an integrated power business spanning electricity generation, trading and supply.”

“This project could provide green power to consumers and businesses alike and contribute towards Shell’s ambition to be a net-zero emissions business by 2050, or sooner,” he said

“Working alongside coastal communities to create shared value is key to success and this is why we have chosen and look forward to working with Simply Blue Energy who are rooted in the local community,” he said

Simply Blue Energy chief executive Sam Roch-Perks said that floating wind energy is a major opportunity for Ireland to become a “Green Gulf”, by “realising the benefits of its vast marine and offshore wind resources without negatively impacting our beautiful coastlines”.

“Our shared vision for Emerald is to do the right thing for our stakeholders, the community and the environment,” he said.

“ This announcement represents an important milestone in the ability of the Emerald project to ensure the government meets its climate target of 5GW of offshore wind by 2030,” he said.