A floating offshore wind project in the Celtic Sea off the coast of Cornwall has moved a step closer after securing fresh Government support.

Hexicon’s TwinHub 32MW project won the UK’s first-ever Contracts for Difference (CfD) auction, which secures 15 years of revenue support for the first floating offshore wind project in England and Wales.

“Floating offshore wind is set to play an important role in the UK’s energy system, contributing to the Government’s priorities for energy security and generation of cheap, renewable power,” said Hexicon CEO, Marcus Thor.

“With Hexicon being awarded the first ever dedicated CfD award for floating wind in the UK, today is a significant moment for us that marks an important step towards achieving this goal and we couldn’t be happier with the outcome.

“With this decision, our TwinHub project will be the first floating offshore wind project in England and Wales to achieve this milestone and we can now progress to the delivery phase and continue engagement with the local communities, stakeholders and regulators, with the support of Celtic Sea Power.”

TwinHub MD, James Brown, added: “We have today reached a critical target for the TwinHub project, that should be particularly savoured by our own Hexicon team who have worked diligently to deliver this hard-fought win, and also by our development partners, Bechtel who have significantly contributed in their areas of expertise to our success, not forgetting the numerous stakeholders, both governmental and nongovernmental, who have allowed TwinHub to progress.

“Looking ahead, we are now extremely keen to push even harder to bring more innovative projects to market, all ultimately helping to promote local and regional economic growth and drive down the cost of green energy for consumers.”

The TwinHub project is expected to be commissioned and exporting clean power between 2025 and 2027. The project will aim to maximise the use of local supply chains to bring the economic benefits of floating offshore wind to the region, including Falmouth port, which has a potential to play an important role in the project’s development and ongoing operation and maintenance services.

Mark Duddridge, chair of the Cornwall and Isles of Scilly Local Enterprise Partnership, said: “This is fantastic news for Cornwall and paves the way for a floating wind industry in the Celtic Sea and thousands of potential jobs. The LEP has championed floating wind as an economic and environmental opportunity for our region for more than five years and we warmly welcome Hexicon’s intention to use local supply chains for its TwinHub project.

“The Crown Estate is targeting the Celtic Sea for 4GW of power by 2035, enough for almost four million homes, and up to 20GW by 2045. That’s a massive opportunity on the road to net zero. Floating wind is the new green energy frontier and this announcement puts Cornwall and the south west in the vanguard.”