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Ireland's ESB negotiating offshore wind stake buy - report

The Blyth offshore wind park. Source: EDF Energy (www.edfenergy.com).

November 8 (Renewables Now) - Irish state-owned utility Electricity Supply Board (ESB) is holding advanced discussions to acquire a 50% stake in the 450-MW Neart na Gaoithe (NnG) offshore wind farm in Scottish waters, Bloomberg reports.

People familiar with the matter told the news agency that a final agreement has not yet been reached but it could be announced as soon as the next few weeks.

The GBP-1.8-billion (USD 2.3bn/EUR 2.1bn) offshore wind project is owned by French peer Electricite de France SA (EPA:EDF), which bought it from developer Mainstream Renewable Power Ltd in May 2018.

The 54-turbine wind farm will be constructed in the Firth of Forth off the east coast of Scotland. It is fully-consented and has a 15-year Contract for Difference (CfD) at a rate of EUR 140 (USD 154) per MWh. Completion is scheduled for 2023.

(GBP 1.0 = USD 1.280/EUR 1.161)

(EUR 1.0 = USD 1.103)

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Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

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