10/07/20, 1:04 PM
Edinburgh 7 July 2020: Moray Offshore Windfarm (East) Ltd (known as ‘Moray East’) today announced that it had successfully completed the installation of its first jacket in the outer Moray Firth. The jackets (of which there will be 103) are the steel structures on which the 100 wind turbine generators and three offshore substations will be installed.
The onshore works to support the jacket installation is being undertaken from Global Energy’s facility at the Port of Nigg in Easter Ross.
Commenting, Substructure Manager Ed Maycock said:
“I am delighted that, despite the challenges of the current health situation and the last minute substitute of the installation vessel , this major offshore milestone has been safely achieved in the Moray East project, and I would like to thank all of those who have worked to make this possible.
Contact Moray East Press Office – 07584 608842
Notes To Editors
The installation is being undertaken by DEME Group, using Global Energy’s facility at the Port of Nigg in North East Scotland as the onshore port facility to marshal the structures and support the offshore works.
Moray East Project Statistics
- Capacity: 950MW
- Location: UK, Moray Firth, closest point to shore, 22km from shore.
- Turbines: 100 V164 – 9.5MW
- Power for average requirements of ca. 950, 000 UK homes
- Moray East will generate sufficient electricity to save 1.4 million tonnes CO₂ equivalent annually (assuming displacement of gas generation)
- Power will be generated at £57.50/MWhr, the lowest cost of any new renewable generation and 2/3 less than offshore windfarms in operation around the UK today (typically upward of £140/MWhr)
Moray East Project Ownership & Finance:
The 950MW wind farm is being developed by Moray Offshore Windfarm East Ltd (MOWEL), which is a joint venture company owned by Diamond Green Limited (33.4%), EDPR (33.3 %), ENGIE (23.3%) and CTG (10%).
The project financing agreements were signed on 28th November 2018 with a syndicate of commercial banks as well as EKF, Denmark’s Export Credit Agency (“EKF”) and the Japan Bank for International Cooperation (“JBIC”). The financing is composed of both project finance, which includes a senior debt facility of £2.1 billion, along with other debt facilities of £0.5 billion, and an equity bridge loan facility to cover part of the equity needs. Financial close occurred on 6th of December 2018.
In September 2017, MOWEL 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 £57.5/MWh (2012 tariff-based). The wind farm is expected to be operational by 2022.
Moray East Project Timeline:
2010 – project development commenced when development rights were won in the UK’s 3rd round of offshore wind licencing. The Moray Firth Zone (Zone 1) was split into two, Moray East and Moray West. For technical reasons, Moray East was developed first
2014 – planning consent was awarded by the Scottish Government (offshore works) and Aberdeenshire Council (onshore works)
2017 – A 950MW Contract for Difference (CfD) was won in the UK Government’s 2nd competitive CfD auction. The CfD provides a contract for electricity for 15 years at £57.50/MWhr
2018 – Project announced signing of finance agreements and achieves financial close
2020 – 2022 – Commissioning expected in 2020 / early 2021 and fully operation by 2022