Green light for Galloper offshore wind farm

Friday, 6 November, 2015 - 10:15
The Galloper project will be located close to its existing sister project Greater Gabbard off the Suffolk coast. (Photo: RWE Innogy)
The Galloper project will be located close to its existing sister project Greater Gabbard off the Suffolk coast. (Photo: RWE Innogy)

RWE Innogy has announced three new project partners for Galloper Wind Farm Ltd (GWFL). Green Investment Bank (GIB), Siemens Financial Services and Macquarie Capital, join RWE Innogy in becoming 25 % joint equity partners of the 336 MW Galloper Offshore wind project. The debt financing for GWFL was also closed.

A consortium of 12 commercial banks and the European Investment Bank provides the £1.37 billion debt facilities. Construction of the project off the coast of Suffolk will commence in November. BNP Paribas acted as financial advisor to the project.

The project’s go ahead is set to create around 700 jobs during construction and around 90 jobs once operational. Energy Minister Andrea Leadsom said: “This is fantastic news for the region and the whole of the UK, reflecting the fact that we are open for business and the best place in the world to invest in offshore wind. This milestone shows how the UK’s offshore wind industry is going from strength to strength.” Hans Bünting, CEO of RWE Innogy, agrees: “This announcement shows that the UK is still a strong market for offshore renewables.

The Galloper project which will be located close to its existing sister project Greater Gabbard off the Suffolk coast, was awarded development rights by The Crown Estate in May 2010 and will commence operations by March 2018.

Katharina Garus

Further information:

Siemens delivers turbines for Galloper

VBMS awarded cabling contracts for Galloper

SgurrEnergy supports Galloper offshore wind farm to financial close

GeoSea (DEME Group) sprints to Galloper EPCI foundations win in UK

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