EDF acquires 450 MW offshore wind farm project in Scotland
Project "Neart na Gaoithe" will require a total investment of 1.8 billion pounds sterling.
- Country:
- United Kingdom
EDF has acquired from Mainstream Renewable Power a 450-megawatt offshore wind farm project in Scotland, the two companies said on Thursday.
The project "Neart na Gaoithe" - Gaelic translation of "Power of the Wind" - will require a total investment of 1.8 billion pounds sterling.
The park, whose commissioning is scheduled for 2023, will supply energy to more than 375,000 homes, according to both groups.
"This project is a testament to our continued investment and growth in Scotland, where we are now the leading producer of low-carbon energy," said Simone Rossi, chief executive of EDF Energy, quoted in a statement.
The financial terms of the transaction have not been specified but industry experts estimate that the transaction could represent about 500 million euros.
The project has obtained a grant from the UK government for the electricity it will produce with a guaranteed minimum price of about 114 pounds per megawatt hour for 15 years.
(With inputs from Reuters)
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