Ocean Winds sells Moray East stake
Ocean Winds sells Moray East stake | Windpower Monthly
Ocean Winds has sold a 16.6% share in the 950MW Moray East offshore wind project to infrastructure investor Equitix.
The developer – a 50:50 joint venture of Portuguese utility EDP Renewables and French counterpart Engie – will hold a 40% stake in the project off the east coast of Scotland. It will also continue to manage the project’s daily operations.
Moray East consists of 100 of Vestas’ V164-9.5MW turbines and was commissioned in 2022.
Mitsubishi subsidiary Diamond Green Limited (33.4%) and China Three Gorges (10%) own the remainder of the project.
Related Knowledge Center: ENERGY BASICS: wind
Decades of government support for the development of wind energy has resulted in lower costs and a rapidly growing share of electricity generated by wind turbines. Wind in 2019 accounted for 7.3 percent of electrical generation, surpassing for the first time hydropower at 7.0 percent.