Norwegian-based energy company Statoil has secured a seabed lease from Crown Estate to commence work on a floating windfarm off the coast of Scotland later this year.

Statoil intends to install five turbines in the North Sea. Located 15 miles from Peterhead’s coast in Aberdeenshire, each will have a capacity of 6MW and be installed in depths of around 300ft.

An average wind-speed in the intended location is approximately 22mph, reported The Telegraph. At these levels, power produced could meet consumption requirements of 20,000 households.

“The UK and Scotland are taking a position at the forefront of developing offshore wind as a competitive new energy source.”

Hywind Scotland project director Leif Delp was quoted by The Guardian as saying: “We are very pleased to develop this project in Scotland, in a region with a huge wind resource and an experienced supply chain from oil and gas.

“Through the hard work of industry and supportive government policies, the UK and Scotland are taking a position at the forefront of developing offshore wind as a competitive new energy source.”

More than 90% of global offshore wind power is produced in northern Europe, with UK having the largest share.

The project is expected to become operational by the end of 2017.