EDF Buys Neart na Gaoithe from Mainstream Renewables

Illustration; Image source: Neart na Gaoithe Offshore Wind Farm Coalition

EDF Group has bought the Neart na Gaoithe offshore wind project from Mainstream Renewable Power, following a competitive bidding process, the two companies informed on 3 May. 

The total investment needed to deliver the project is around GBP 1.8 billion and, in line with EDF’s usual practice, the project will be open to other investors in due course, the new owner stated.

EDF Group acquired the project located off the east coast of Scotland through EDF Renewables in the United Kingdom, a joint subsidiary of EDF Energy and EDF Energies Nouvelles.

“This is evidence of our continuing investment and growth in Scotland, where we are the largest generator of low carbon energy. Our operations contribute £389m to the Scottish economy every year and we employ more than 2,800 staff and contractors. We supply 144,000 customers in Scotland,” said Simone Rossi, CEO of EDF Energy.

Mainstream Renewable Power’s Chief Executive Officer, Andy Kinsella said: “The completion of this sale adds to Mainstream’s global track record as the leading independent developer of some of the most significant and complex wind and solar projects across Europe, South America, Africa and Asia. The Neart na Gaoithe offshore wind farm has been fully developed by Mainstream and we are delighted to be handing over this world-class project.”

The 450MW Neart na Gaoithe is fully consented and was awarded a Contract for Difference (CfD) by the Low Carbon Contracts Company in February 2015. The project’s 15-year CfD is set at EUR 140 (corresponding to the indexation of the tariff of £114.39 that was set in 2012 prices), and has grid connection agreements in place.

The offshore wind farm is planned to be commissioned in 2023.

Share this article

Follow Offshore Wind

Events>

<< Dec 2018 >>
MTWTFSS
26 27 28 29 30 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30
31 1 2 3 4 5 6

Energy Storage 2019

The conference will bring together senior representatives from European energy suppliers, developers…

read more >

5th Asia Offshore Wind Day 2019

The event will bring together senior executives active in the offshore wind industry in Asia…

read more >

11th Annual Wind Operations Dallas 2019 Conference & Exhibition

Wind Operations Dallas (O&M, Asset Management, Storage) will draw together 100 professional speakers…

read more >

Jobs>

O&M Lead Contract Manager

Here at Scottish Power Renewables we’re committed to remaining a UK leader in renewable energy. As well as investing in our technologies, we are committed to investing in the future of extraordinary people like you...

apply

Senior Contract Manager

Here at Scottish Power Renewables we’re committed to remaining a UK leader in renewable energy. As well as investing in our technologies, we are committed to investing in the future of extraordinary people like you...

apply

Senior Operations & Maintenance Engineer

The Senior O&M Engineer (Structural) sits within the Asset Integrity Management Department team of Offshore O&M, reporting to a Lead O&M Engineer...

apply

Vessels>