EDPR Sells More Moray East Stake

EDP Renováveis has, through its subsidiary EDPR UK Limited, closed the sale of a 13.4% stake in equity shareholding and outstanding shareholder loans on Moray Offshore Windfarm (East) Limited to Diamond Generating Europe Limited.

Image for illustrative purposes. Source: MHI Vestas

The transaction is valued at GBP 54 million. This sale follows the initial 20% sale announced in March and the agreement on the sale of an additional 13.4%.

With the completion of this transaction, the EDPR stake in Moray Offshore Windfarm (East) Limited is 43.3%, along with Diamond Generating Europe (33.4%) and ENGIE (23.3%).

In September 2017, Moray Offshore Windfarm (East) Limited was awarded a 15-year Contract for Difference (CfD) by the UK’s Department for Business, Energy & Industrial Strategy (BEIS) for the delivery of 950MW of offshore wind generation at GBP 57.5/MWh.

The Moray East offshore wind farm will comprise 100 MHI Vestas 9.5MW wind turbines installed some 22km off the coast of Scotland and scheduled for commissioning in 2022.