AB Ignitis grup Financial Close Achieved For Moray West Offshore Wind Farm
21 Abril 2023 - 4:50AM
UK Regulatory
TIDMIGN
AB "Ignitis grup " (hereinafter -- the Group) informs that Moray
West offshore wind farm project, located in the Moray Firth,
Scotland (hereinafter -- the Project), and owned by Ocean Winds (a
joint venture between ENGIE and EDP Renewables) and the Group (a
minority shareholder with a stake of 5%), reached financial
close.
The Project financing will be utilised to secure the remaining
elements of supply chain activity in preparation for offshore
installation works in later 2023. The Project with expected
installed capacity of 882 MW, through 60 wind turbines with
capacity of 14.7 MW each to be supplied by Siemens Gamesa Renewable
Energy, is expected to reach COD by 2025.
For more than 50% of expected output, the Project has secured
long term corporate power purchase agreements (CPPAs). Furthermore,
a 15-year indexed CfD was secured for a third of the expected
output.
Taking a stake in the Moray West wind farm allows the Group to
gain experience and valuable know-how in offshore wind project
development, which will be used to develop offshore wind energy in
Lithuania. The Group, together with Ocean Winds, is preparing for
the first auction for offshore wind in Lithuania.
For more information, please contact:
Paulius Kalmantas
Communications Partner at Ignitis Renewables
https://www.globenewswire.com/Tracker?data=rlC-brCsYuWjqFr5WsnwCLXNPcrmfxRp82LaLBO44-vJO0EAq_buKhqri0wvbByqY1qgR3FzYc--nruZgQpgvxsUDBvuOs_lqLZUt1kmUMlzSfA_jB1PVJQ96mCwY0tR
paulius.kalmantas@ignitis.lt
+370 617 51 616
(END) Dow Jones Newswires
April 21, 2023 05:50 ET (09:50 GMT)
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