A 50/50 three way partnership between Macquarie’s Green Investment Group (GIG) and Total has been profitable in securing rights to a seabed lease within the Eastern Regions zone within the Crown Estate’s Offshore Wind Leasing Round four.
The challenge, which will likely be positioned off the UK’s East Anglian coast, might ship as much as 1.5GW of renewable electrical energy and represents a major early-stage funding within the UK offshore wind sector for each firms.
Read extra about
Total and GIG had been awarded this lease for an annual possibility charge of £83,000 ($114,000) per MW/12 months, through the growth section. There will now be a Habitat Regulations Assessment (HRA) of the attainable affect of the challenge on related nature conservation websites within the allotted space. Following the profitable conclusion of that course of, the ultimate agreements for lease will likely be signed throughout 2022.
The challenge will allow the 2 companions to increase within the UK, which is Europe’s most mature marketplace for offshore wind and supplies regular progress views and a transparent route-to-market.
Mark Dooley, world head of Green Investment Group, mentioned: “With this funding, we’re persevering with our pioneering function within the UK’s power transition, and serving to to ascertain offshore wind because the spine of its new low-carbon power system. Building on our monitor document as one of many nation’s largest funders of offshore wind, this represents a major enhance in our dedication to the UK’s offshore wind sector. This provides to our rising portfolio of renewable developments in Europe and grows our world offshore wind growth portfolio to over 13 GW.”
Sign up for our e-newsletter
“Total is delighted to have been awarded 1.5GW as a part of the 4th Round of offshore wind leases from The Crown Estate with our associate GIG. We proceed to assist the power transition targets of the UK. This challenge is our largest renewables growth in Europe thus far and an vital step towards our 2050 internet zero ambition”, mentioned Julien Pouget, senior vp Renewables at Total. “This success builds on our historic experience within the UK offshore and is paving the way in which to the growth of our renewable power providing within the nation consistent with our technique of changing into a broad-energy firm”.
GIG and Total are additionally at the moment partnering in South Korea to co-develop a significant portfolio of floating offshore wind initiatives.
The put up GIG and Total win seabed lease rights for UK offshore wind challenge appeared first on Power Engineering International.