EDPR completes sale of a stake in 950 MW Scottish offshore wind project to Mitsubishi
EDP Renováveis S.A. (EDPR), through its subsidiary EDPR UK Limited (EDPR UK), has closed the sale of a 13.4% stake in equity shareholding and outstanding shareholder loans on Moray Offshore Windfarm (East) Limited (MOWEL), to Diamond Generating Europe Limited (DGE), for a total sum of £54 million (US$61.6 million).
This sale follows the initial 20% sale announced on March 23rd 2018 and the agreement on the sale of an additional 13.4%.
With the completion of this transaction, the EDPR stake in MOWEL is 43.3%, along with DGE (33.4%) and ENGIE (23.3%).
In September 2017, MOWEL was awarded a 15-year Contract for Difference (CfD) by the UK’s Department for Business, Energy & Industrial Strategy (BEIS) for the delivery of 950 MW of offshore wind generation at £57.5/MWh (US$65.6 MWh) (2012 tariff-based). MOWEL is expected to be completed by 2022.
The wind farm, located in the Outer Moray Firth off the east coast of Scotland, will use 100 units of the V164-9.5MW turbine. It will generate electricity for nearly one million UK households, when it is fully commissioned.
Country updates
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