Moray West Offshore Wind Farm reaches Financial Close

Wind Industry Profile of

£2 billion of project finance investment is secured to complete the construction of Moray West

Moray West Offshore Wind Farm, part of the growing Ocean Winds portfolio of UK projects, is proud to announce that it has secured £2bn of non-recourse project finance and reached financial close. The project has been supported to reach this stage by its primary sponsor Ocean Winds, a joint venture between EDP Renewables and ENGIE dedicated to offshore wind, and by Ignitis Group as minority shareholder. Moray West is the first UK offshore wind farm to rely in majority on corporate power purchase agreements (CPPAs) for the commercialisation of its output. CPPAs were signed with long-term strategic partners, for more than 50% of the project’s output, enabling the... ... More: Official Press Release Ocean Winds

Keywords:

Moray West, offshore, wind farm, financial close, Ocean Winds, financing, UK, EDP, ENGIE, CPPA, output, partnership, Scotland