Green Giraffe was mandated to provide M&A advisory services to Flotation Energy, a pioneering developer of floating offshore wind and energy transition projects. Flotation Energy, headquartered in Edinburgh, Scotland, has a pipeline of more than 12 GW of commercial scale fixed and floating offshore wind farms, including the UK Round 4 Morecambe Project and White Cross 100 MW floating project in the Celtic Sea. Its founders Allan MacAskill and Lord Nicol Stephen developed Kincardine, the world’s largest floating wind farm.
In November 2022, the process closed with Tokyo Electric Power Company (TEPCO), Japan’s largest electricity utility and one of the largest in the world. The deal marks TEPCOs first major venture into offshore wind markets in the UK and overseas, and will see Flotation Energy become part of the TEPCO Group.
Green Giraffe acted as sole financial advisor to Flotation Energy, bringing the combination of our unparalleled experience in the floating offshore wind sector and DC Advisory’s intimate knowledge of Japanese investors.
Lord Nicol Stephen, CEO & Co-founder of Flotation Energy, said: “The Green Giraffe team were outstanding from the start to finish of this transaction. Flotation Energy could not have hoped for advisers with a better understanding of our business and the fast-growing global market in floating offshore wind. Their expertise was critical to the success of the deal.”
We are proud of our continued success in unlocking floating offshore wind finance. This transaction marks our 20th closing in this young sector, including project, portfolio, corporate and technology funding, both in debt and equity.
