Enbridge buys stake in UK offshore wind farm
The Canadian energy company Enbridge has bought a stake in the 400MW Rampion offshore wind project, which will be built off the Sussex coast.
The company has acquired a 24.9% interest and will be one of three shareholders in Rampion Offshore Wind Limited.
E.ON will remain the controlling shareholder at 50.1 percent, with the UK Green Investment Bank plc (GIB) continuing to hold a 25 percent interest.
The wind farm will be located 13 kilometres off the Sussex coast south, near Brighton.
The development is expected to supply the equivalent of up to 300,000 homes.
Construction work started in September and is expected to be fully operational in 2018.
“Thanks to our excellent project portfolio and our capabilities there is a strong demand in the market for assets built and operated by E.ON. We are happy to strengthen our partnership with Enbridge as a reliable partner, who shares our approach of combining high class assets and safe operations”, said Michael Lewis, COO of E.ON Climate & Renewables.
Ed Northam, Head of Investment Banking, UK Green Investment Bank, added: “Securing Enbridge’s first investment in offshore wind is a major success for Rampion and the wider development of green infrastructure projects in the UK. The company’s background in North American renewables and pipelines complements the expertise of the existing shareholder group. Our collective experience will help realise the successful construction and operation of the wind farm.”
Jamie Hailstone is a freelance journalist and author, specializing in local government, transport and energy issues