The French energy group Engie has inked a deal with EDP Renováveis (EDPR), the renewable branch of Portuguese power utility EDP, to acquire a 23% share in the 1,116 MW Moray Firth offshore wind project from its subsidiary EDPR UK (EDPR UK) for a price of £21m (€23.7m).
As a result, Engie will hold a 23% stake in Moray Offshore Renewables (MORL), the operating company in charge of the plant construction, development and operation. Apart from Engie, the two other remaining stakeholders are CTG (China Three Gorges), which owns a 30% interest in the project since 2015 and EDPR UK, which holds the remaining 47%.
The 1,116 MW Moray East project is located in the North Sea off the Scottish coast, 22 km from Caithness. In 2010, MOWEL was awarded the right to develop offshore wind energy in Zone 1 of the Third Offshore Wind Licensing Round (UK Round 3) and received consent from the Scottish authorities in March 2014 for the construction of a wind park facility up to 1,116 MW.
Up to July 2015, the Spanish company Repsol had a 33% stake in Moray Offshore Renewables (MORL) but swapped the stake with EDPR which gained a 100% of the project. Later in October 2015, CTG (China Three Gorges ) purchased a 30% stake in the project.
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