The 448MW Neart na Gaoithe offshore wind project has passed its 12-month Contracts for Difference (CfD) milestone, Low Carbon Contracts Company (LCCC) said.
The Scottish wind farm was one of three projects that have passed their first milestone, thus concluding the Milestone Requirement process for all Allocation Rounds 1 and 2 projects.
The Milestone Requirement must be met within 12 months of the CfD being signed and requires a generator to demonstrate their commitment to delivering the project by either incurring actual spend equal to 10% of the expected development and construction costs; or by evidencing project commitments, including that financing is in place for the project and contracts are in place in relation to the material equipment for the generation and export of electricity.
The Neart na Gaoithe wind farm is located some 15 kilometres off the Fife coast and is expected to be operational by 2023.
The wind farm will comprise up to 54 wind turbines.
The project is owned and developed by the EDF Group.