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03 Nov 2008 05:11:43

New investor for Greater Gabbard wind farm

New investor for Greater Gabbard wind farm
The 500 megawatt Greater Gabbard Offshore Wind Farm has found a new investor.

Npower renewables, subsidiary of RWE Innogy, is to buy the stake for £380 from Scottish and Southern Energy (SSE), with which it will share the electricity generated by the project.

Construction is expected to require investment of £1.3 billion, with the project expected to be completed by 2011.

When it first transmits energy to the grid through a substation in Sizewell, Suffolk, the Greater Gabbard project will be the biggest wind farm in the world, though it will be overtaken by the London Array, when that is completed in 2012 or 2013.

SSE chief executive Paul Cowling said: "Greater Gabbard is a major development in every sense, and its significance is underlined by RWE Innogy's investment in it. Our priority is to make sure construction work proceeds in an efficient and timely manner, so that it can begin to play its important part in meeting the UK's energy needs as soon as possible."

Airtricity, SSEs subsidiary which will operate the project, recently joined forces with other offshore wind industry companies to work with the Carbon Trust to find ways of reducing the cost of offshore wind farms.



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