Moray East offshore windfarm secures funding

EDPR, DGE and Engie have announced that the 950MW Moray East offshore windfarm has secured financing for construction.

The 29 November press release said the wind farm was awarded a 15-year Contract for Difference in September 2017 at £57.50/MWh. The project is currently owned by EDPR (43.3%), Diamond Green Limited, which is partly owned by DGE (33.4%) and ENGIE (23.3%) and is expected to be operational by 2022.

Joao Manso Neto, CEO of EDPR said: “This is a massive step forward for this project, in which the consortium has placed all its trust. Given its size and characteristics, a deal of this magnitude marks a milestone for the financing of renewable energy on a global scale.”


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