Flotation Energy’s Chief Executive, Lord Nicol Stephen announces today that he will retire at the end of September 2025.
Barry Macleod, who currently holds the position of Managing Director at Flotation Energy, will assume the role of Chief Executive following a two-month handover. Barry’s deep technical expertise and proven track record will ensure Flotation Energy stays at the vanguard of floating offshore wind.
Commenting on his decision, Nicol Stephen said:
”The last seven years have been an incredible journey of growth and development. I feel now, as I reach retirement age, it is a natural time to hand over and enable our immense success to continue.
“Flotation Energy is in a position of real strength. We remain a development partner in the Round 4 Morecambe project. Cenos is progressing through the offshore consent process. White Cross has secured both onshore and offshore consents. Our most advanced project, Green Volt, is progressing at pace having secured a Contract for Difference last year in AR6. These major milestones highlight the scale and momentum across our business.
“I am delighted that Barry Macleod will be succeeding me as Chief Executive. I have worked very closely with him for several years now. His track record as a Board Member of the company, coupled with his deep knowledge of Flotation Energy’s projects, made him the natural choice.”
Barry will formally assume the role at the start of October, taking over from Nicol whose legacy as founder and Chief Executive leaves an indelible mark on the company.
Commenting on Nicol’s tenure, Toru Fujishiro, Chief Operating Officer, Flotation Energy said:
”Under the visionary leadership of Lord Nicol Stephen, Flotation Energy has grown from a pioneering start-up into a globally respected force in the offshore wind sector. His unique experience and entrepreneurial spirit have been instrumental in advancing our flagship projects. Green Volt alone has set new benchmarks for innovation, sustainability and the energy transition.
“Throughout his time as Chief Executive, Nicol has consistently redefined the boundaries of what’s possible in offshore wind – especially with world-leading floating projects. He has built a legacy of sustainability, forward-thinking leadership and global influence that we continue to embody at Flotation Energy.
On behalf of the Board and the entire Flotation Energy family, we extend our deepest gratitude to Nicol for his pioneering and invaluable contributions. We all wish him every happiness in his well-deserved retirement.”
Barry Macleod, Managing Director, Flotation Energy added:
”It’s a real honour to be stepping into the role of Chief Executive at Flotation Energy, building on Nicol’s outstanding legacy and the work he began with Allan MacAskill at Kincardine Offshore Windfarm. From day one, Flotation Energy has been about collaboration, vision, and getting things done - making the most of our experience to push the boundaries of what’s possible in floating offshore wind.
As we look ahead, our purpose remains clear: to help deliver a sustainable energy future through commercial-scale offshore wind, grounded in delivery and powered by a brilliant team. Thanks to Nicol's determination and the backing of our shareholder TEPCO Renewable Power, we have a strong business that is well placed to drive the journey to net zero."
