Project on Track for Financial Close in 2014 and Construction in 2015
Mainstream Renewable Power today confirms that its 450 megawatt offshore wind farm in Scotland has been announced by the Department of Energy and Climate Change (DECC) as one of the first projects eligible to apply for the UK’s new renewable energy support scheme. DECC has this morning published details of the renewable energy projects in the UK which will be eligible to apply for the Contract for Difference (CfD) prior to the launch of the scheme in late 2014. It confirmed that Mainstream’s 450MW Neart na Gaoithe offshore wind farm has cleared the eligibility threshold, enabling it to take forward its application to secure the CfD by April 2014.
Commenting on the announcement, Mainstream’s Offshore CEO and Executive Director, Andy Kinsella, said: “This is another significant step on the journey with the Scottish and UK governments. The next will be the issuing of the offshore planning determination. Today’s announcement is a key driver in enabling Mainstream to reach financial close with the project in 2014 and to start construction in 2015.
He continued: The Project remains on track to be the first large-scale offshore wind farm deployed in Scottish waters and the first offshore wind farm in the UK to attract true non-recourse project finance at the construction stage. We look forward to continuing our work with DECC to secure an investment contract in early 2014.”
The wind farm, which will deliver 3.7% of Scotland’s electricity demand when fully operational, last month announced the deployment of the North Sea’s first commercial floating LiDAR wind measurement device, which is capturing wind data at the site.
Notes to editors:
· Neart na Gaoithe (NnG) will have a capacity of 450MW, in line with its secured grid connection.
· There will be 72-90 turbines – dependent on which turbine model is selected.
· The site is located in the outer Firth of Forth and is 15.5 kilometres from the coast of Fife at its closest point to land.
· The closest turbine will be 15.8 kilometres from the shore.
· The site will be approximately 81 square kilometres with the turbines sited in water depths of 48 – 54 metres.
· The project has pre-qualified for the UK Government’s Infrastructure Guarantee scheme.
· The Project aims to start construction in 2015, ahead of first power export in early 2017.
About Mainstream Renewable Power
Mainstream Renewable Power is one of the world’s leading independent developers of renewable energy projects. With a development pipeline of over 19GW globally it is currently constructing solar and wind farms across Ireland, South Africa, Chile and Canada.
As Europe’s leading independent offshore wind developer Mainstream is developing just under 8GW of offshore wind projects in England, Scotland and Germany with 4.45GW of secured grid connection for these offshore projects.
It employs more than 160 experienced staff across four continents with offices in Berlin, Cape Town, Chicago, Dublin, Glasgow, Johannesburg, London, Santiago and Toronto.
Mainstream Renewable Power
Tel: +353 1 290 2027