The iQ office building in Aberdeen city centre is nearly full after a letting to one of the partners behind plans for the world’s largest floating wind farm.
Flotation Energy has taken 3,812sq ft of newly refurbished offices on the ground floor.
The Edinburgh-headquartered company employs about 50 people in the Granite City.
Renewables projects in the North Sea are fuelling growth expectations at the Japanese-owned firm, prompting the move into iQ.
Flotation’s north-east team previously worked from offices on Rubislaw Terrace.
Green Volt wind farm expected to create hundreds of new jobs
Marine Scotland recently approved plans for a 35 turbine, 560-megawatt floating wind farm, Green Volt, 50 miles off Peterhead.
The project is expected to create hundreds of jobs.
It is a joint venture between Flotation and Norwegian firm Vargronn.
Energy industry veteran Sit Ian Wood hailed approval of the scheme as a “massive boost” for the north-east and said it would trigger up to £3 billion in investment.
Building ticked right boxes as Aberdeen home for Flotation Energy
Explaining what led Flotation to choose the iQ building for its new Aberdeen base, Flotation general counsel Dan Wright said: “We were looking for an innovative environment, aligned sustainability credentials and a thriving community for our team.
“The iQ Building offers all of these, and we look forward to getting to know our colleagues and neighbours here.”
Flotation was founded in 2018 by Allan MacAskill and Nicol Stephen, whose ambition was to advance “the immense opportunities offshore wind offers globally”.
In November 2022 the firm was taken over by Japan’s Tokyo Electric Power Company and became part of its renewable power division.
Flotation joins a cluster of energy and renewables businesses in the iQ Building, which is on Justice Mill Lane just off the west end of Union Street.
The office complex is owned by Singapore-headquartered real estate development, investment, capital and property management company Mapletree.
Fiona Lyons, director, asset management, UK, at Mapletree Investments, said, “The iQ Building offers exceptional best- in-class office space.
“Significant investment has been made to refurbish the asset so that we can offer tenants like Flotation Energy an excellent and conducive place to work, grow and ensure their people thrive.”
Flotation’s tenancy was secured by Knight Frank, whose Aberdeen-based partner Matthew Park said: “Aberdeen continues to maintain its position as a global energy hub, with more companies relocating to the city centre.
“With the amenities the iQ Building offers, together with its ESG (environmental, social, and governance) credentials, we’re confident occupiers will be happy there.”
Arron Finnie at Ryden acted on behalf of Flotation.
The iQ Building now has just one remaining suite available on the ground floor.
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