EDPR Sells More Moray East Stake

EDP Renováveis has, through its subsidiary EDPR UK Limited, closed the sale of a 13.4% stake in equity shareholding and outstanding shareholder loans on Moray Offshore Windfarm (East) Limited to Diamond Generating Europe Limited.

The transaction is valued at GBP 54 million. This sale follows the initial 20% sale announced in March and the agreement on the sale of an additional 13.4%.

With the completion of this transaction, the EDPR stake in Moray Offshore Windfarm (East) Limited is 43.3%, along with Diamond Generating Europe (33.4%) and ENGIE (23.3%).

In September 2017, Moray Offshore Windfarm (East) Limited was awarded a 15-year Contract for Difference (CfD) by the UK’s Department for Business, Energy & Industrial Strategy (BEIS) for the delivery of 950MW of offshore wind generation at GBP 57.5/MWh.

The Moray East offshore wind farm will comprise 100 MHI Vestas 9.5MW wind turbines installed some 22km off the coast of Scotland and scheduled for commissioning in 2022.