Repsol, EDPR to Swap Stakes in UK Projects

Repsol and EDP Renováveis ​​(EDPR) have reached an agreement to swap stakes in two offshore wind project with a total capacity of 1.9GW.

Inch Cape project

According to the agreement, EDPR will acquire 33% stake in the Moray offshore wind project and sell the 49% stake in the Inch Cape offshore wind project.

When the transactions are finalised, Repsol will own 100% of Inch Cape project while EDPR will have a total control of Moray project.

The companies are waiting for the approval from The Crown Estate.

Both projects, located in the UK, were approved by the Scottish government last year.

Image: EDPR/Repsol