RWE Innogy has agreed terms for the sale of a 10% share in its Gwynt y Môr offshore wind park in the United Kingdom with the UK Green Investment Bank. RWE Innogy will generate £220m (about €264m) of new capital as a result of the sale, which will be reinvested into other renewable energy projects within its extensive portfolio. The transaction will close when the construction of Gwynt y Môr is completed, expected to be towards the end of 2014. RWE will then hold 50%, of the project, Stadtwerke München 30%, Siemens 10% and the UK Green Investment Bank 10%.
A €2bn project, Gwynt y Môr will consist of 160 turbines and is being built by RWE Innogy UK in Liverpool Bay, off the North Wales coast. The project is being funded by RWE Innogy, in partnership with Stadtwerke München and Siemens. Once operational, Gwynt y Môr will have an installed capacity of 576 MW, using Siemens 3.6 MW turbines and generators. Construction is now well underway in north Wales and offshore in Liverpool Bay. The wind farm is due to be fully operational by the end of 2014.
Interested in Power Plants?
Enerdata has developed a market research service to screen, monitor and analyse the development of power generation assets.
Power Plant Tracker offers an interactive database and a powerful search engine covering power plants worldwide – including both installed and planned capacities for renewables and fossil fuels.