Celtic Sea Floating Offshore Wind Leasing Round 5 - Project Development Area 2 - Direct Award

The Crown Estate is seeking to enter into a concession contract for the grant of new seabed rights to a developer for the development of a new floating offshore wind farm within a project development area (a "PDA") in the Celtic Sea, which has a maximum potential energy generation capacity of 1.5GW. These rights will be governed by an 'agreement for lease', the holder of which will acquire the rights necessary to develop a floating offshore wind farm in the relevant PDA and will have the option to enter into a lease with The Crown Estate for the construction and operation of the wind farm for the purposes of the generation, transmission and sale of electricity (or other forms of energy, where permitted), subject to the satisfaction of certain conditions detailed in the agreement for lease.

The maximum contract value has been stated in this notice as [0.01 GBP] as The Crown Estate is unable to state a maximum contract value for the PDA which is the subject of this transparency notice, due to the impossibility of predicting what the likely overall value of the concession to the developer will be. The option fee price which will be payable by the developer to The Crown Estate under the agreement for lease for the PDA which is the subject of this transparency notice will be 350 GBP/MW/annum.

The estimated dates for the agreement for lease are 20 February 2026 to 19 February 2036. Refer to section II.1.4) above and Annex D4 below.