180 MW Potential for UK Wind Farm Sites

The energy provider, Centrica, has acquired two adjacent offshore wind farm sites from AMEC Investment and Offshore Wind Power, a joint venture between Renewable Energy Systems (RES) and British Energy Renewables, for an initial cash consideration of £7 million (US$12.4 million), plus an additional £2 million (US$3.55 million), which is conditional on the placing of construction contracts.

Lincolnshire, England – December 24, 2003 [SolarAccess.com] Both sites, lying about 5 kilometers off the south Lincolnshire coast, have planning consent to develop 90-MW wind farms, comprising 30 turbines each. Under separate Development Services Agreements, Centrica will retain the services of AMEC and RES to develop a total of 180 MW, with the entire output taken by Centrica’s subsidiary, British Gas. The capital investment cost, assuming the project progresses to completion, together with the acquisition consideration, is currently estimated at approximately £190 million (US$337.3 million), of which £20 million (US$35.5 million) will be funded by government capital grants. “This demonstrates our commitment to meeting our renewable obligation and the progress we are making towards reaching that goal,” said Centrica Energy Management Group Managing Director Jake Ulrich. “British Gas has over six million domestic electricity customers and we are determined to play a leading role in ensuring that increasing the level of UK renewable generation becomes a reality. We are also pleased to be working with experienced players, AMEC and Renewable Energy Systems, who have a proven track record in wind farm developments.” According to Centrica, following the allocation of a second round development license this month, there is a further opportunity to develop an additional 250 MW of capacity at this offshore site. Centrica expects to commit up to £500 million (US$887.5 million) over the next five years to participate in building renewable capacity. Its approach will be to work in strategic partnerships to de-risk its investment, maximize the capacity and minimize the capital employed.
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