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.”