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MHI Vestas signs conditional deal for 950-MW Moray East

MHI Vestas' V164 turbine. Image courtesy of MHI Vestas Offshore Wind.

August 21 (Renewables Now) - MHI Vestas Offshore Wind has signed a conditional deal for the 950-MW Moray Offshore Windfarm East project in the UK whose developer previously selected the V164-9.5MW turbine model.

Denmark’s Vestas Wind Systems A/S (CPH:VWS), which owns MHI Vestas as an equally held joint venture with Japan’s Mitsubishi Heavy Industries (TYO:7011), unveiled the conditional deal on Tuesday, noting that it still has not translated into a firm and unconditional order. The Danish company also mentioned that the project will not enter into its own order backlog.

Separately, project developer Moray Offshore Windfarm (East) Ltd confirmed it will stick to its earlier choice of the V164-9.5MW turbine. The company is owned by EDP Renovaveis SA (ELI:EDPR) with a 57% stake, Engie SA (EPA:ENGI) with 23%, and Diamond Generating Europe Ltd (DGE) with 20%.

MHI Vestas Offshore Wind was selected as preferred turbine supplier for the Moray East project in October 2017. If the order becomes firm and unconditional, the offshore wind joint venture will supply 100 units of its V164-9.5MW turbine for installation at the project site in the Outer Moray Firth off the east coast of Scotland.

The Moray East project was awarded a contract for difference (CfD) in 2017 by the UK government at GBP 57.50 (USD 73.8/EUR 64) per MWh. A final investment decision is yet to be taken.

(GBP 1.0 = USD 1.283/EUR 1.113)

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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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