Shortly after altering the popular wind turbine provider, the three tasks within the Norfolk Offshore Wind Zone within the UK have now additionally modified palms as RWE will purchase Vattenfall’s 4.2 GW Norfolk portfolio for GBP 963 million (roughly EUR 1.1 billion). The brand new proprietor says it’s going to additionally resume the event of the Norfolk Boreas offshore wind farm that was paused in July this 12 months.
The three tasks embrace Norfolk Vanguard West, Norfolk Vanguard East and Norfolk Boreas, every with a deliberate put in capability of 1.4 GW.
The transaction between RWE and Vattenfall, which continues to be topic to approval by The Crown Property and regulatory approvals, is anticipated to be closed within the first quarter of 2024.
In accordance with the 2 corporations, the vast majority of the acquisition worth pertains to bills spent so far because the tasks are within the late stage of growth.
The Norfolk offshore wind farms have already secured seabed rights, grid connections, growth consent orders (DCOs) and different key permits. The Norfolk Vanguard West and Norfolk Vanguard East tasks are probably the most superior, having secured the procurement of many of the key elements, with the most recent being the wind generators.
The information on RWE’s takeover of the Norfolk trio comes shortly after Vattenfall and Vestas signed a capability reservation settlement for 92 V236-15 MW wind generators for Norfolk Vanguard West.
The soon-to-be former proprietor additionally signed exclusivity agreements with Vestas for Norfolk Vanguard East and Norfolk Boreas.
With Norfolk Vanguard West and Norfolk Vanguard East being at a complicated stage, RWE plans to safe contracts for distinction (CfDs) for the 2 tasks in one of many upcoming public sale rounds.
The brand new challenge proprietor additionally says the corporate will resume the event of the Norfolk Boreas challenge, which Vattenfall paused this Summer time saying the choice was made resulting from difficult offshore wind market situations.
The situations have improved within the UK since then, in response to responses from the trade to the UK authorities’s current announcement on adjustments to the upcoming CfD auctions.
In a press launch from 20 December, asserting the agreements signed for its wind generators, Vestas stated the brand new parameters for the subsequent contracts for distinction (CfD) spherical “despatched a really constructive sign to renewable power buyers”.
Following the settlement with Vattenfall, RWE’s UK Nation Chair, Tom Glover, additionally stated the corporate welcomed the UK authorities’s current choices on future offshore wind auctions, which give builders the arrogance to take a position.
“The UK has been one in every of our most essential core markets for many years. We’re delighted that we are able to now additional contribute to attaining the UK’s formidable build-out targets for offshore wind. The well timed and environment friendly deployment of offshore wind is crucial to make sure the UK’s home power safety, in addition to attaining our web zero targets,” Tom Glover stated.
RWE plans to have all three Norfolk offshore wind tasks commissioned on this decade.
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