Engie to Buy 23 Percent Stake in 1.1GW Moray Offshore Wind Project

French energy giant Engie has agreed to acquire a 23% stake in equity shareholding and outstanding shareholders loans on the Moray Offshore Windfarm (East) Limited (MOWEL) from EDPR UK Limited, a subsidiary of EDP Renováveis S.A. 

Engie bought the 23% stake for a total consideration of GBP 21 million, EDPR said.

With the completion of this transaction, Engie, a partner of EDPR in offshore projects in France and floating projects in Portugal and France, will participate in the investment, development and operation of the Moray wind offshore project, located in the North Sea off the coast of Scotland.

In January 2010, MOWEL was awarded the right, under a farm leasing programme conducted by The Crown Estate, to develop offshore wind energy in Zone 1 of the Third Offshore Wind Licensing Round, and in March 2014 was granted consent by the Scottish government for up to 1,116 MW offshore wind development.

The project consists of the Telford, Stevenson and MacColl offshore wind farms, which are planned for construction 14 miles (22km) from the Caithness coastline.

Related news

List of related news articles

Posted: 9 months ago

Investors Showing Great Interest in Taiwanese OW Project

Funding for wpd’s Yunlin offshore wind project in Taiwan is close to completion and negotiations wit...

Categories:
  • Business & Finance
Posted: 9 months ago
Posted: 9 months ago

Virginia Affirms Offshore Wind Ambitions

Virginia's Governor Ralph Northam has released the 2018 Virginia Energy Plan which calls for the dev...

Categories:
  • Authorities
Posted: 9 months ago
Posted: 9 months ago

Germany Readies New Offshore Wind Call

Germany's ruling coalition has agreed to issue a special call to tender for additional renewable ene...

Categories:
  • Authorities
Posted: 9 months ago
Posted: 9 months ago

REBO Welcomes Offshore Wind Teams

Norther N.V. and Siemens Gamesa Renewable Energy have moved into a new building at the REBO terminal...

Categories:
  • Business & Finance
Posted: 9 months ago