UK: RES Could Buy Stakes in Offshore Wind Projects

A UK-based renewables energy developer Renewable Energy Systems Ltd. (RES) could buy shares in offshore wind projects.

Chris Morgan, CEO of the RES Offshore unit, said that the involvement in offshore projects in the future is a strategically interesting area that the company will look to get into, the Bloomberg informs.

As European governments are seeking ways to boost offshore wind by attracting investment into the industry to reduce carbon emissions and secure supply, Mr. Morgan said that RES would like to be an investor, taking minority stakes in ventures.

The RES Offshore unit has won the rights to develop a 500MW wind park off the coast of Brittany with Iberdrola SA and is working on a 4.2GW project in the Irish Sea with Centrica Plc. It offers development, engineering, construction, project management and O&M services for offshore wind farms.

Moreover, RES is looking into development of offshore wind in the USA.

[mappress]

Offshore WIND staff, June 15, 2012; Image: AREVA Wind