Sep 11 (Renewables Now) - Germany's Innogy SE (ETR:IGY) said today that final investment decision for the 860-MW Triton Knoll offshore wind project, which just secured a contract for difference (CfD) from the UK government, is expected to be made in the middle of 2018.
Triton Knoll is one of three offshore wind projects totalling about 3.2 GW that were successful in the CfD auction. It is a 50/50 joint venture between Norwegian state-owned utility Statkraft and Innogy, which is managing the development.
The project, commissioning of which is due to start in 2021, was awarded a strike price of GBP 74.75 per MWh under the 15-year support mechanism. The wind farm is expected to require an investment of GBP 2 billion (USD 2.6bn/EUR 2.2bn), Innogy said. Onshore construction is planned to start next year and offshore works in 2020.
To be located off the coast of Lincolnshire, eastern England, the project secured consent for the offshore array, at up to 1.2 GW, in 2013. The project's capacity was then pared to up to 900 MW and consent for the electrical system was obtained in 2016.
Innogy said that until the final investment decision is made, the financing process will be finalised and contracting agreements completed with the project's supply chain partners.
(GBP 1 = USD 1.319/EUR 1.098)