The EDF group, via EDF Renewables in the United Kingdom, owned by EDF Energy and EDF Energies Nouvelles, has acquired the “Neart na Gaoithe” wind farm project1 » from Mainstream Renewable Power, an international player in wind and solar power, following a competitive process.
The offshore wind farm will generate a power of 450 MW, and will be able to power more than 375,000 homes2. This project, which has all administrative authorizations, is located in the Forth Estuary on the east coast of Scotland and extends over an area of 105 km2. It benefits from a Contract for Difference (CFD) with a duration of 15 years at a rate of 140 Euros (corresponding to the indexation of the 2012 rate which was set at £114.39), as well as network connection agreements. This project also benefits from one of the best wind conditions in Europe.
The total investment required to carry out the project amounts to almost 1.8 billion GBP. The commissioning of the park is planned for 2023. In accordance with the Group's practice, the project will be open to partners when the time comes to share this investment effort.
Bruno Bensasson, Group Executive Director, in charge of the Renewable Energy Sector and Chairman and CEO of EDF Energies Nouvelles, declares: “This new project of scale demonstrates our desire to become a key player in offshore wind power internationally. It confirms EDF's commitment to renewable energies, particularly in countries where the group has strong roots, such as the United Kingdom. The project is part of EDF's CAP 2030 strategy, which plans to double the group's renewable capacities by 2030.
Simone Rossi, Managing Director of EDF Energy, underlines : “This project demonstrates our ongoing investment efforts and growth in Scotland, where we are now the leading producer of low-carbon energy. The contribution of our activities to the Scottish economy is worth 389 MGBP each year. We have more than 2,800 employees and subcontractors in Scotland where nWe serve 144,000 customers ».
Andy Kinsella, Managing Director of Mainstream Renewable Power adds: “We are delighted to bring EDF Renewables, a renowned partner and important supporter of the Scottish energy sector, into this crucial infrastructure project for Scotland. The completion of this sale adds to the track record of Mainstream, a large independent developer of projects among the most significant and complex in the wind and solar sectors in Europe, South America, Africa and Asia. The Neart na Gaoithe offshore wind farm was entirely developed by Mainstream and we are delighted to hand over the keys to this world-class project to EDF Renewables.”.
1 Neart na Gaoithe: Gaelic translation of “Strength of the Wind”.
2 Based on average household electricity consumption of 3,889 kWh divided by overall UK energy consumption (published July 2017), and the average load factor of Renewable-UK offshore wind turbines estimated at 37.2%.
About the EDF group
A major player in the energy transition, the EDF Group is an integrated energy company, present in all businesses: production, transport, distribution, trading, energy sales and energy services. Leader in low-carbon energies in the world, the Group has developed a diversified production mix based on nuclear energy, hydraulics, new renewable energies and thermal energy. The Group participates in the supply of energy and services to approximately 37.1 million customers, including 26.2 million in France. In 2016, it achieved a consolidated turnover of 71 billion euros. EDF is a company listed on the Paris Stock Exchange.
About EDF Renewables in the United Kingdom
A major player in the renewable energy sector in the United Kingdom, EDF Renewables specializes primarily in the development, construction and operation of onshore and offshore wind projects, but also battery storage projects. The company also operates and maintains its own wind farms. The company already operates over 786 MW of wind farms (including 319 MW in Scotland) and has over 1 GW under development. EDF Renewables continues to develop its renewable energy activities in Scotland, which notably includes the construction of the 177 MW Dorenell wind farm in Moray, the largest onshore wind project to be accompanied by a CFD, which is scheduled to be commissioned in at the end of 2018. The company employs more than 170 people. The company is a joint venture between EDF Energy and EDF Energies Nouvelles.
About NNG
Located off the east coast of Scotland, NnG's offshore wind farm has all the necessary authorizations and was awarded a CFD by Low Carbon Contracts in February 2015. The CFD, which was awarded under of a highly competitive call for tenders, gives the offshore wind project a price indexed to inflation for the electricity produced over a period of fifteen years.
About Mainstream Renewable Power
Mainstream Renewable Power is a leading independent developer of industrial wind and solar power plants in high-growth emerging markets. The company is committed to delivering a high-quality portfolio of over 7 GW of wind and solar assets across South America, Africa and Asia. In Chile, Mainstream has 1.3 GW of fully permitted wind and solar projects in operation, under construction, or in advanced stages of development, thanks to its unprecedented success in government auctions. The company has commissioned 600 MW of wind and solar assets in South Africa and is set to begin construction of a further 250 MW of wind farms in the coming weeks. In Asia, the company is developing large-scale projects in Vietnam and the Philippines. Mainstream has raised over €1.3 billion in project funding to date and employs 160 people across four continents. The company has developed some of the UK's most powerful offshore wind projects, including the Neart na Gaoithe and Hornsea projects.
Press Contact
EDF Group
Press service: +33 (0) 1 40 42 46 37
Analysts and investors: +33 (0) 1 40 42 40 38
EDF Renewables
Manon de Cassini-Hérail: +33 (0)1 40 90 48 22
manon.decassini-herail@edf-en.com
Clarisse Placidoux: +33 (0)1.40.90.49.46
clarisse.placidoux@edf-en.com
EDF Renewables in the United Kingdom
Lindsey Southworth: 07813 230379
lindsey.southworth@edf-er.com
Mainstream Renewable Power
Emmet Curley: +353862411690
emmet.curley@mainstreamrp.com