EDP Renováveis and ENGIE consortium is awarded CfD for UK offshore wind project

Wednesday, 13 September, 2017 - 13:00

EDP Renováveis, S.A. (EDPR) and ENGIE announced that Moray Offshore Windfarm (East) Limited, a joint venture company currently owned by EDPR (77 %) and ENGIE (23 %), has been awarded a 15-year Contract for Difference (CfD) for the delivery of 950 MW of offshore wind generation at £ 57.50/MWh.

Further information on CfD
gov.uk/government/collections

The contract was awarded by the UK’s Department for Business, Energy & Industrial Strategy (BEIS) following its latest CfD auction. EDPR the world’s fourth-largest wind energy producer, and ENGIE are jointly developing this project, which is located off the north-east coast of Scotland. Upon conclusion of the development phase and the selection of all partners and suppliers for the different stages of construction and operation, the project would then move towards the construction phase. Moray East received consent from the Scottish Government to construct and operate 1116 MW of offshore wind generation in 2014. Planning permission in principle was granted by Aberdeenshire council for the onshore electrical infrastructure to connect the wind farm to the UK’s national electricity transmission grid. Completion and the commencement of commercial operation are expected in 2022.

João Manso Neto, CEO of EDPR said: “With today’s announcement EDPR increases its growth options in offshore wind in an attractive market, thereby enhancing and diversifying the company’s long term profitable growth options while maintaining a balanced risk profile. EDPR’s sustained commitment to the UK offshore wind market through Electricity Market Reform and the transition to CfD auctions have enabled dramatic cost reduction from £150/MWh in 2014 to £57.50/MWh today.

Wilfrid Petrie, CEO for ENGIE in the UK & Ireland, commented: “We are delighted that the Moray East offshore wind farm has received this CfD, which is an important step in taking this project forward. This will be ENGIE’s first offshore wind development in the UK, and complements our growing global offshore wind portfolio with projects in France, Portugal and Belgium, as well as our existing renewables operations in the UK.

EDPR / ENGIE / Silke Funke

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