E.ON to invest in £1.3bn wind project in Sussex
Energy giant E.ON has partnered with the UK Green Investment Bank (GIB) over the construction of the Rampion offshore wind farm – expected to power 300,000 homes.
The Green Investment Bank has acquired a £236 million stake in the new project that once completed will help save 4,215 kt CO2 over its lifetime. Total investment supported by E.ON is £1.3 billion.
The 400MW and 116-turbine wind farm will be developed off the coast of Brighton and would generate 1.333 GWh of renewable electricity, able to power 300,000 UK homes.
Tony Cocker, UK chief executive of E.ON, said, “This is an important milestone for what is a strategically important project for the UK. At around £1.3bn this investment by E.ON and our partners at the UK Green Investment Bank could be one of the biggest capital projects confirmed in Britain this year and we are proud of the leading role we are continuing to take in helping transform the UK’s energy infrastructure.”
Shaun Kingsbury, UK Green Investment Bank’s chief, added, “Our investment gives the developer the confidence to begin construction on this important offshore wind project, boosting UK energy supply and generating enough power annually for around three hundred thousand homes.”
Around 300 jobs plus 65 permanent full-time positions will be created to create and support the wind farm.
In December, E.ON said it was planning on focus more heavily on renewable energy in order to respond to the “transformation of the energy world”.
Huub den Rooijen, head of offshore wind at the Crown Estate – which owns the UK’s seabed said, “We look forward to continuing to work with the industry to bring forward these large scale wind projects which will help further bring down costs and support the UK’s low carbon energy mix over the long term.”
Photo: NHD-INFO via Flickr
We’re live on Crowdcube. To own a share in our tomorrow, click here.
Register with Blue and Green
To leave a comment on this article, fill in your details below to register, alternatively if you are already registered you can login here