Connection

popular articles

Harmony Energy successfully activates 35 MW / 70 MWh Rusholme site
The Czech Republic Ends Its Dependence on Russian Oil
Iran’s Nuclear Program: Acceleration and Geopolitical Challenges
Renewable energy dominates Dutch electricity production in 2024
Jupiter Power boosts ERCOT network with 400MWh of storage in Houston

ENGIE: Financial close of the Moray West offshore wind farm in Scotland

ENGIE announces the financial closing of the Moray West wind farm in Scotland, with an installed capacity of 882 MW. This park is the first in the United Kingdom to rely mostly on commercial renewable power purchase agreements to market its output.

Please share:

ENGIE announces the financial close of the Moray West offshore wind farm, located in the Moray Firth in Scotland, with a non-recourse project financing of £2 billion. The wind farm, with an installed capacity of 882 MW and 60 turbines, is the first offshore wind farm in the UK to rely predominantly on Commercial Power Purchase Agreements (CPPAs) to market its output.

CPPAs have been signed with long-term strategic partners for over 50% of the site’s production and represent the largest such contracts implemented in the UK market to date. ENGIE, through its 50/50 joint venture with EDP Renewables, has a portfolio of 6.1 GW in the UK, with all its projects located in Scottish waters.

Low-cost, low-carbon electricity for 1.3 million households

Construction of the park had already begun, allowing the local supply chain to be established. The construction phase of the Moray West wind farm will create a total of 1,000 direct jobs in the UK. The financial close allows the project to secure the remaining elements of the supply chain in preparation for the offshore installation work scheduled for late 2023.

Moray West is expected to reach full production by 2025, contributing to the UK and Scotland’s renewable energy targets and providing the equivalent of 1.3 million households a year with access to long-term, low-cost, decarbonized electricity.

ENGIE in full expansion in wind energy

ENGIE has tripled the size of its project portfolio since the creation of its joint venture Ocean Winds in 2020. In addition to Moray West, Ocean Winds owns Moray East, which has already been in operation since 2022, and has secured the rights to develop the Caledonia offshore wind farm (about 2 GW) and two floating projects east of the Shetland Islands, for a total of 2.3 GW. With 15 projects in 7 countries, Ocean Winds currently has a portfolio of 1.5 GW of projects in operation and 15.1 GW under construction and development worldwide.

Paulo Almirante, Executive Vice President of ENGIE Renewables, Energy Management and Nuclear, said, “We are delighted to have achieved financial close on a project as important and strategic as Moray West. Alongside the Moray East offshore wind farm, Moray West contributes to the responsible development of the UK offshore wind industry and will play a key role in providing renewable electricity to businesses and large numbers of homes.

Register free of charge for uninterrupted access.

Publicite

Latest news

Record-breaking 1.7 GW of US Community Solar Installed in 2024
Launch of the 100 MW Bramley Energy Storage Project in the UK
Hyvia, Renault’s hydrogen joint venture, placed in liquidation
Growth of the Lithium-Ion Battery Recycling Market: A Report from Deloitte and CAS Analyzes Key Trends
Orano envisages a long and uncertain restart for its uranium mine in Niger

Recently published in

ACWA Power to Develop Egypt’s Largest Wind Farm with 2 GW by 2026

ACWA Power has signed a 25-year power purchase agreement (PPA) with EETC for the development of a 2 GW wind project in Egypt, representing a USD 2.3 billion investment and helping the country increase its renewable energy share.
Innergex makes a tax equity investment in the Boswell Springs Wind Farm
The Canadian company Innergex has announced a tax equity investment for its Boswell Springs wind farm, as part of its expansion into the U.S. renewable energy sector. This move aims to optimize tax returns while strengthening its asset portfolio.
en_1140290954540-12
Innergex makes a tax equity investment in the Boswell Springs Wind Farm
The Canadian company Innergex has announced a tax equity investment for its Boswell Springs wind farm, as part of its expansion into the U.S. renewable energy sector. This move aims to optimize tax returns while strengthening its asset portfolio.
en_1140290954540-12
Siemens Gamesa invests €200 million in Le Havre to counter China
Siemens Gamesa announces a €200 million investment to expand its Le Havre factory. The goal: to produce longer and more powerful wind turbine blades to remain competitive against China, the global leader in the sector.
en_1140290949540-11
Siemens Gamesa invests €200 million in Le Havre to counter China
Siemens Gamesa announces a €200 million investment to expand its Le Havre factory. The goal: to produce longer and more powerful wind turbine blades to remain competitive against China, the global leader in the sector.
en_1140290949540-11
Qualitas Energy strengthens its wind investment strategy in Germany with Clemens Susen
Qualitas Energy appoints Clemens Susen as Head of Investment for Germany. Under the leadership of Johannes Overbeck, Co-CEO, he will oversee capital allocation toward strategic wind projects, focusing on repowering and greenfield developments.
en_1140290993540
Qualitas Energy strengthens its wind investment strategy in Germany with Clemens Susen
Qualitas Energy appoints Clemens Susen as Head of Investment for Germany. Under the leadership of Johannes Overbeck, Co-CEO, he will oversee capital allocation toward strategic wind projects, focusing on repowering and greenfield developments.
en_1140290993540

Eurus Energy Starts Operation of Ashikawa Wind Farm in Japan

Eurus Energy announces the commissioning of the Ashikawa Wind Farm, completing the Dohoku Wind Power Generation project in northern Hokkaido. This project increases the total capacity to 434.5 MW, strengthening energy production in a region with limited electrical infrastructure.
BNP Paribas and the EIB Mobilize €8 Billion for Wind Energy in Europe
BNP Paribas and the European Investment Bank (EIB) sign an agreement to stimulate up to €8 billion in investments in wind energy within the European Union. This initiative strengthens financing for wind projects and supports the European industry in the sector.
en_1140290981540-2
BNP Paribas and the EIB Mobilize €8 Billion for Wind Energy in Europe
BNP Paribas and the European Investment Bank (EIB) sign an agreement to stimulate up to €8 billion in investments in wind energy within the European Union. This initiative strengthens financing for wind projects and supports the European industry in the sector.
en_1140290981540-2
Canada Joins Global Offshore Wind Alliance to Strengthen Economic Positioning
Canada joins the Global Offshore Wind Alliance (GOWA), reinforcing its presence in the offshore wind sector. This initiative aims to structure the industry, attract investments, and position the country in the global marine energy market.
en_1140290980540
Canada Joins Global Offshore Wind Alliance to Strengthen Economic Positioning
Canada joins the Global Offshore Wind Alliance (GOWA), reinforcing its presence in the offshore wind sector. This initiative aims to structure the industry, attract investments, and position the country in the global marine energy market.
en_1140290980540
Adani abandons $442 million wind farm project in Sri Lanka
The Adani group withdraws from its $442 million wind farm project in Sri Lanka after tensions with the government, which decided to renegotiate the electricity purchase agreement and reassess the project.
en_1140290956540-10
Adani abandons $442 million wind farm project in Sri Lanka
The Adani group withdraws from its $442 million wind farm project in Sri Lanka after tensions with the government, which decided to renegotiate the electricity purchase agreement and reassess the project.
en_1140290956540-10

Scatec finalizes the sale of its wind farm in Vietnam to the SUSI Asia Energy Transition Fund

Scatec ASA has concluded the sale of its Dam Nai wind farm in Vietnam to the SUSI Asia Energy Transition Fund, with an initial payment of USD 27 million, along with additional contingent payments.
Aker Solutions secures key contract for the BalWin 1 wind project
Aker Solutions has signed a contract with Dragados Offshore to manufacture the steel substructure for the HVDC converter station of the BalWin 1 project in Germany. This 2 GW project is being developed for the Amprion Offshore GmbH grid.
en_1140290954540-9
Aker Solutions secures key contract for the BalWin 1 wind project
Aker Solutions has signed a contract with Dragados Offshore to manufacture the steel substructure for the HVDC converter station of the BalWin 1 project in Germany. This 2 GW project is being developed for the Amprion Offshore GmbH grid.
en_1140290954540-9
RWE qualified to stabilize the German grid via Amrumbank West
RWE has obtained pre-qualification to provide a 60 MW secondary reserve through its offshore wind farm, Amrumbank West. Starting in 2025, this capacity will be auctioned on the balancing energy market, strengthening the stability of the German power grid.
en_1140290946540-7
RWE qualified to stabilize the German grid via Amrumbank West
RWE has obtained pre-qualification to provide a 60 MW secondary reserve through its offshore wind farm, Amrumbank West. Starting in 2025, this capacity will be auctioned on the balancing energy market, strengthening the stability of the German power grid.
en_1140290946540-7
Cadeler strengthens its presence in Poland with a strategic offshore wind agreement
Cadeler has signed a Vessel Reservation Agreement with Ocean Winds for the installation of turbines at the BC-Wind offshore wind farm in the Polish Baltic Sea. The contract, estimated between EUR 48 and 56 million, reinforces the company’s position in this expanding market.
en_1140290951540-7
Cadeler strengthens its presence in Poland with a strategic offshore wind agreement
Cadeler has signed a Vessel Reservation Agreement with Ocean Winds for the installation of turbines at the BC-Wind offshore wind farm in the Polish Baltic Sea. The contract, estimated between EUR 48 and 56 million, reinforces the company’s position in this expanding market.
en_1140290951540-7

Amazon and CleanMax Sign a PPA for 100 MW of Wind Energy in India

Amazon has signed a Power Purchase Agreement (PPA) with CleanMax for the development of a 100 MW wind farm in India. The project, which will be connected to the national grid, is expected to be operational by the second quarter of 2026.
The United Kingdom invests 42 billion euros to modernize its electrical grid
Faced with the rise of renewable energies, the United Kingdom is committing 42 billion euros to modernizing its electrical grid by 2031. This project, led by National Grid, aims to adapt infrastructure despite local tensions caused by the installation of new high-voltage power lines.
en_1140290945540-5
The United Kingdom invests 42 billion euros to modernize its electrical grid
Faced with the rise of renewable energies, the United Kingdom is committing 42 billion euros to modernizing its electrical grid by 2031. This project, led by National Grid, aims to adapt infrastructure despite local tensions caused by the installation of new high-voltage power lines.
en_1140290945540-5
Ørsted cuts investments amid difficulties in the United States
Danish wind energy giant Ørsted reports a modest net profit of 16 million kroner in 2024, after recording losses in 2023. Facing rising costs and delays in the U.S., the company is scaling back its investments through 2030.
en_1140290948540-5
Ørsted cuts investments amid difficulties in the United States
Danish wind energy giant Ørsted reports a modest net profit of 16 million kroner in 2024, after recording losses in 2023. Facing rising costs and delays in the U.S., the company is scaling back its investments through 2030.
en_1140290948540-5
ERG Signs Wind Energy Supply Contract with Amazon
Independent renewable energy producer ERG has signed a long-term power purchase agreement (PPA) with Amazon. The deal involves energy from the Corlacky wind farm in Northern Ireland, which is expected to be operational by the end of 2025.
en_1140290960540-4
ERG Signs Wind Energy Supply Contract with Amazon
Independent renewable energy producer ERG has signed a long-term power purchase agreement (PPA) with Amazon. The deal involves energy from the Corlacky wind farm in Northern Ireland, which is expected to be operational by the end of 2025.
en_1140290960540-4

Vestas multiplies its net profit in 2024 and records an all-time high order backlog

The world leader in wind energy, Vestas, multiplied its net profit sixfold in 2024, reaching €499 million. With a record order backlog of €68.4 billion, the Danish group is betting on offshore wind power to sustain its growth.
SSE Renewables and APG Advance on 2GW IJmuiden Ver Alpha Connection
SSE Renewables, APB/APG, and TenneT have signed a realization agreement for the connection of the IJmuiden Ver Alpha offshore wind farm in the Netherlands. This 2GW project marks a major step in the Dutch high-voltage grid and is expected to be operational by 2029.
en_1140290946540-2
SSE Renewables and APG Advance on 2GW IJmuiden Ver Alpha Connection
SSE Renewables, APB/APG, and TenneT have signed a realization agreement for the connection of the IJmuiden Ver Alpha offshore wind farm in the Netherlands. This 2GW project marks a major step in the Dutch high-voltage grid and is expected to be operational by 2029.
en_1140290946540-2
Amazon and Iberdrola strengthen their partnership with 476 MW of new contracts
Amazon and Iberdrola are expanding their energy partnership with the addition of 476 MW of new power purchase agreements (PPAs). These agreements span five countries and mark a first entry into Portugal, further consolidating their presence in the European market.
en_1140290950540-2
Amazon and Iberdrola strengthen their partnership with 476 MW of new contracts
Amazon and Iberdrola are expanding their energy partnership with the addition of 476 MW of new power purchase agreements (PPAs). These agreements span five countries and mark a first entry into Portugal, further consolidating their presence in the European market.
en_1140290950540-2
Mitsubishi Corporation reviews its offshore wind projects in Japan amid economic challenges
Mitsubishi Corporation is reassessing its offshore wind projects in Japan due to macroeconomic turbulence. Inflation, yen depreciation, and rising interest rates are complicating the viability of these projects, initially awarded in 2021. The company is now evaluating its next steps.
en_1140290949540-2
Mitsubishi Corporation reviews its offshore wind projects in Japan amid economic challenges
Mitsubishi Corporation is reassessing its offshore wind projects in Japan due to macroeconomic turbulence. Inflation, yen depreciation, and rising interest rates are complicating the viability of these projects, initially awarded in 2021. The company is now evaluating its next steps.
en_1140290949540-2

Warsaw launches Baltica 2: Offshore Wind Farm for €7.15 Billion

The Polish Prime Minister announces the Baltica 2 project, carried out in partnership with Ørsted and PGE, aiming for 1.5 GW over 190 km² in the Baltic Sea, with a launch this year and commissioning scheduled for 2027.
Ørsted: Leadership Shakeup and Offshore Market Challenges
Ørsted, a Danish renewable energy specialist, is undergoing a major reshuffle following difficulties in the U.S., with the resignation of its CEO and the appointment of his deputy.
en_1140290951540
Ørsted: Leadership Shakeup and Offshore Market Challenges
Ørsted, a Danish renewable energy specialist, is undergoing a major reshuffle following difficulties in the U.S., with the resignation of its CEO and the appointment of his deputy.
en_1140290951540
Canada and Nova Scotia Implement New Legislative Framework for Offshore Wind Energy
The Government of Canada, in partnership with Nova Scotia, implements new legislative provisions governing offshore wind energy development to stimulate the economy and attract significant investments.
en_1140290956540
Canada and Nova Scotia Implement New Legislative Framework for Offshore Wind Energy
The Government of Canada, in partnership with Nova Scotia, implements new legislative provisions governing offshore wind energy development to stimulate the economy and attract significant investments.
en_1140290956540
TGS Wins Offshore Wind Site Characterization Contract in the UK
TGS has secured an offshore wind site characterization contract off the coast of the UK, with a duration of 30 days and mobilization scheduled for Q2 2025.
en_1140290958540-4
TGS Wins Offshore Wind Site Characterization Contract in the UK
TGS has secured an offshore wind site characterization contract off the coast of the UK, with a duration of 30 days and mobilization scheduled for Q2 2025.
en_1140290958540-4

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS