Inch Cape: Scottish Offshore Wind Project Reaches a Milestone with £3.5 Billion Funding

The Inch Cape offshore wind farm, owned by ESB and Red Rock Renewables, has secured £3.5 billion in funding to begin its construction phase. This flagship 1,080 MW project aims to bolster the United Kingdom's energy security.

Share:

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25£/month*

*billed annually at 99£/year for the first year then 149,00£/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2£/month*
then 14.90£ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

The Inch Cape offshore wind project, located 15 kilometers off the Angus coast in the North Sea, has officially reached financial close. This milestone marks a significant step forward for the 1,080-megawatt (MW) wind farm, a key infrastructure for the UK’s energy transition. ESB and Red Rock Renewables, equal joint owners, secured over £3.5 billion in funding from a consortium of 22 commercial banks to support this critical phase.

The wind farm will be equipped with 72 Vestas 15 MW turbines, the first of their kind in the UK. These advanced turbines will be installed on a mix of monopile and jacket foundations. An offshore substation platform and two 85-kilometer alternating current (AC) export cables will transmit the electricity to an onshore substation currently under construction in Cockenzie, East Lothian.

A Major Contribution to Local Energy and Economy

Once operational, the wind farm is expected to generate nearly 5 terawatt-hours (TWh) per year, enough to power hundreds of thousands of UK households with clean electricity. The project has also made a significant economic impact, with £300 million already spent with more than 300 UK-based companies, ranging from technical consultancies to civil engineers.

The infrastructure aims to enhance the UK’s energy security while contributing to emissions reduction goals. Paul Lennon, Head of Offshore Wind, Hydrogen, and Long-Term Storage at ESB, highlighted this achievement as a major step in the company’s Net Zero 2040 strategy.

State-of-the-Art Technology for an Ambitious Project

This wind farm represents one of Scotland’s largest renewable energy initiatives. Xiaomeng Chen, CEO of Red Rock Renewables, emphasized that the project incorporates cutting-edge technologies and innovative designs, positioning it as a flagship example of large-scale green investment in Scotland.

The project benefits from a 50-year lease granted by Crown Estate Scotland and 15-year contracts with the Low Carbon Contracts Company (LCCC), awarded during the UK government’s Contract for Difference (CfD) auctions in 2022 and 2024.

Construction Timeline and Outlook

Construction of the onshore substation and coastal infrastructure has already commenced in Cockenzie, while the offshore platform and its foundations are nearing completion in Wallsend. Offshore construction is set to begin in Q2 2025 with the installation of export cables and the platform. First electricity production is expected in late 2026, with commercial operations scheduled to start in 2027.

Driven by solid operational performance, Nordex has raised its 2025 EBITDA margin forecast to 7.5–8.5%, up from the previous 5–7%, following a significant improvement in preliminary third-quarter results.
Neoen’s Goyder South Wind Farm reaches full generation capacity, strengthening the French group’s presence in Australia’s energy market with 412 MW connected to the grid.
The Australian government has granted environmental approval for the 108 MW Waddi Wind Farm, a Tilt Renewables project with construction costs exceeding $400mn.
The 180 MW Nimbus wind project enters its final phase of construction in Arkansas, with commercial operation scheduled for early 2026.
Faced with market uncertainty in Europe, Siemens Gamesa pauses a planned industrial investment in Esbjerg, highlighting structural difficulties in the offshore wind sector.
Institutional deadlock in France delays tenders and weakens the offshore wind sector, triggering job cuts and major industrial withdrawals from the market.
The Lithuanian energy group has signed a EUR 318 million financing agreement for its 314 MW wind project, the largest in the Baltic states.
German group BayWa r.e. has tasked Enercoop Bretagne with implementing a citizen investment scheme for its planned wind farm in Plouisy, aiming for shared governance and stronger local involvement.
US wind capacity fell in Q2, but developers anticipate a sharp increase by late 2025, with 46 GW of new capacity forecast by 2029 and a peak in 2027.
Engie has signed a renewable electricity supply contract with Apple covering 173 MW of installed capacity in Italy, with commissioning scheduled between 2026 and 2027.
Renova a soumis une méthodologie d’évaluation environnementale pour un projet éolien terrestre de 280MW à Higashidori, renforçant son positionnement sur les technologies renouvelables au Japon.
The joint venture between BP and JERA ends its offshore wind ambitions in the United States, citing an unfavourable economic and regulatory environment for continuing the development of the Beacon Wind project.
With a 300 MW partnership signed with Nadara, Q ENERGY exceeds 1 GW of wind repowering projects in France, reinforcing its position in a market driven by public investment dynamics.
The acquisition of Cosmic Group by FairWind consolidates its position in Australia and marks a strategic expansion into New Zealand and Japan.
Danish manufacturer Vestas has paused construction of its planned facility in Poland, originally set for 2026, citing weaker-than-expected European offshore wind demand.
British operator Equitix has been selected to take over transmission assets of the Neart na Gaoithe offshore wind farm, a £450mn ($547mn) project awarded under Ofgem’s tenth tender round.
Energiequelle GmbH has launched replacement work for old turbines at its Minden-Hahlen site, aiming for long-term structural maintenance with the installation of three new 200-metre machines.
GE Vernova will equip the Ialomiţa wind farm with 42 turbines of 6.1 MW, strengthening its presence in the European onshore wind sector with a 252 MW project in partnership with Greenvolt.
Eversource Energy posts a one-time $75mn charge linked to unforeseen costs in the Revolution Wind project, while tightening its 2025 earnings forecast.
The Renewables Infrastructure Group has signed a ten-year power purchase agreement with Virgin Media O2 for its onshore wind farms in the United Kingdom, ensuring price stability for both parties.

All the latest energy news, all the time

Annual subscription

8.25£/month*

*billed annually at 99£/year for the first year then 149,00£/year ​

Unlimited access - Archives included - Pro invoice

Monthly subscription

Unlimited access • Archives included

5.2£/month*
then 14.90£ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.