United Kingdom – Ocean Winds, a 50-50 joint venture between EDP Renewables and Engie, has sold a 16.6% stake in its operating Moray East offshore wind farm to Equitix, an international investor, developer, and fund manager of core infrastructure assets.
The transaction highlights both firms’ commitment to accelerating the global shift towards cleaner and more environmentally responsible energy sources. It also allows Ocean Winds to continue investing in its additional 5GW of offshore wind projects in Scotland.
Ocean Winds will continue to manage the daily operations of the Moray East project from its Operations and Maintenance base in Fraserburgh and post the transaction will hold a 40% stake in Moray East.
Completion of the transaction is subject to the satisfaction of customary conditions.
UK offshore wind
The sale of a stake in Moray East Offshore Wind Farm is a significant development for the offshore wind industry in the UK. It shows that there is growing investor interest in offshore wind projects, and it will help to accelerate the development of offshore wind in the UK.
The development of offshore wind in the UK will have a number of positive impacts. Offshore wind will help to reduce the UK’s reliance on fossil fuels and greenhouse gas emissions. Offshore wind will also create jobs and boost the UK economy.
