Along with the announcement of being awarded Contract for Difference (CfD) from the UK Government for it East Anglia 1 project, ScottishPower Renewables also informed that it is buying a 50% stake in the project from Vattenfall.
“The East Anglia ONE project will now be developed solely by ScottishPower Renewables. Vattenfall and ScottishPower Renewables will continue to develop the rest of the East Anglia zone,” the company said today.
East Anglia 1 has planning consent for up to 1,200MW, but ScottishPower Renewables decided to initially develop it as a 714 megawatt (MW) offshore wind farm. The company said that it still may pursue building the full project “by securing further capacity in future CfD auctions”.
Gunnar Groebler, Head of BU Renewables at Vattenfall , said: “The divestment of our 50% shareholding in EA1 to SPR means that we can prioritise investment in the UK and the rest of our European wind portfolio. We still see a promising future for the rest of the East Anglia Development Zone – and UK offshore wind generally – and we will continue to work with SPR to deliver the remaining five projects.”
East Anglia 1 will comprise around 100 wind turbines installed in the southern North Sea. The overall investment will be in the region of £2 billion, and the project could meet the annual electricity demands of around 500,000 homes.
Offshore WIND Staff; Image: ScottishPower Renewables (West of Duddon Sands Offshore Windfarm)