UPDATE - Scottish floating wind project for sale under administration

The 10-MW Dounreay Tri floating wind demonstration project in Scottish waters is up for sale and interested parties can get access to the Project Data Room.

Brian Milne and Linda Barr of French Duncan Restructuring and Debt Advisory have been appointed administrators to Edinburgh-based Dounreay Tri Ltd on July 5. The offer for sale of the company’s interest in the project was published last week.

The floating offshore wind project is being developed by Swedish engineering company Hexicon AB through Dounreay Tri Ltd. The scheme, designed to demonstrate Hexicon's semi-submersible foundation for offshore wind, secured development consent from the Scottish government in March. Hexicon said soon after that that the project company had completed a EUR-45-million (USD 53m) bond issue to partially fund construction costs of the floating offshore wind installation.

The project, located 9 km (5.6 miles) off Dounreay, Caithness, is to feature two wind turbines of 5 MW each on a single floating platform. It is entitled to 3.5 renewables obligation certificates (ROCs) per MWh of produced power if commissioning of the wind farm is achieved by the end of September 2018. The project has a connection agreement for 10 MW with Scottish Hydro Electric Power Distribution.

Choose your newsletter by Renewables Now. Join for free!