California's first floating wind project moves closer to PPA

Floventis-founded CADEMO Corporation and California Community Power (CC Power) have signed a memorandum of understanding (MoU) to facilitate the development of the 60 MW floating wind project off the coast of California.

The MOU establishes a collaboration between CC Power, a joint powers authority that conducts joint power procurement on behalf of nine California Community Choice Aggregators (CCAs), and CADEMO to develop the CADEMO Project as California's first offshore to support wind project.

Through the MoU engagement, CC Power aims to learn more about the key cost drivers of offshore wind development in order to build support for appropriate policies that promote local investment, jobs and community considerations, greater renewable energy penetration and electricity affordability harmonize.

CC Power and CADEMO, in collaboration with CC Power's CCA members, plan to work with local communities to ensure the CADEMO project is “implemented properly” by facilitating meetings with community stakeholders and the perspectives of various local community members recognize and integrate them into the development of the project

CC Power and CADEMO are committed to seeking grants, incentives and other support to minimize the cost of offtake from the CADEMO Project while maximizing the value of the Project's electricity production.

This effort includes a roadmap to work the parties toward the possibility of a Power Purchase Agreement (PPA) between the parties, with energy benefits and costs passed on to participating CC Power member CCAs.

Map of the CADEMO Floating Wind Project (Source: CADEMO Corporation)

The project will be located off the coast of Vandenberg Space Force Base near Lompoc in California waters. The goal is to have commercial operations in 2028. That could bring it online several years ahead of other planned offshore wind projects in federally leased waters off the California coast.

The project is expected to include four turbines with a total capacity of 60 MW and produce approximately 200 GWh/year of zero-emission renewable energy.

CADEMO Corporation was founded by project developer Floventis, a joint venture between Cierco, the developer of onshore and offshore wind energy, and SBM Offshore, a major global manufacturer of floating offshore energy systems.

Anna Harden

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