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CNBC.com MHI Vestas Offshore Wind
MHI Vestas Offshore Wind will supply 100 turbines for a 950-megawatt (MW) offshore wind farm in waters off the northeast coast of Scotland.
In an announcement Thursday, the business said that it would supply the facility with its V164-9.5 MW turbines. It has signed a “firm turbine supply order” for the Moray East Offshore Wind Farm, which also includes a 15-year service agreement. The Moray East project reached a financial close Thursday. Located in the Moray Firth, its closest point to shore will be 22 kilometers, and it will generate power for the average requirements of around 950,000 U.K. homes. In 2017, the project won a Contract for Difference (CfD) from the U.K. government to provide electricity at a price of £57.50 ($73.38) per megawatt hour. This is almost two-thirds lower than the £140 per megawatt hour for wind farms currently under construction. The CfD scheme is used by the U.K. government to support the generation of low-carbon electricity. “Moray East is a landmark project for the offshore wind industry, delivering sustainable, renewable generation at a highly competitive power price,” Oscar Diaz, the project director for Moray East, said in a statement. The construction and operation of the facility are scheduled to take place between 2019 and 2022. According to the Scottish government, Scotland is home to 25 percent of Europe’s offshore wind resources. More broadly, there are more than 58,000 jobs in Scotland’s low carbon and renewable energy economy.
Moray East Offshore Windfarm East is a joint venture business owned by EDP Renewables, Engie and Diamond Green Limited. MHI Vestas Offshore Wind is itself a joint venture between Vestas Wind Systems and Mitsubishi Heavy Industries. Anmar Frangoul Freelance Digital Reporter, CNBC.com Related Securities