Ocean Winds, a joint venture between France’s Engie and Portuguese electric utilities company EDP, has sold a 16.6% stake in the Moray East offshore wind farm to infrastructure manager and investor, Equitix.
This transaction allows Ocean Winds to continue investing in its additional 5GW of offshore wind projects in Scotland.
Ocean Winds will continue to manage the daily operations of the Moray East project from its operations and maintenance base in Fraserburgh. Following the transaction, it will hold a 40% stake in Moray East. The two other partners, Diamond Green Limited and CTG will hold 33.4% and 10%, respectively.
Moray Firth East is located some 22km from the shore. It has an installed capacity of 950 MW and provides power for around 1.43m homes. It also generates sufficient electricity to save 1.4m tonnes of CO₂ equivalent annually, assuming displacement of gas generation.
“With the ongoing construction of Moray West and the development of the Caledonia project, Ocean Winds is multiplying the capacity of the Moray Firth region to generate close to 4 GW of clean energy from offshore wind and unlocking key opportunities for supply chain and local communities,” said Adam Morrison, Ocean Winds’ country manager for the UK.
