Offshore wind farm victory sparks Sea Energy - Business - Evening Standard
       

Offshore wind farm victory sparks Sea Energy

Shares in wind-power firm Sea Energy Renewables jumped 15 per cent today after the Government announced details for nine proposed offshore green-energy sites.

The Crown Estate, which is auctioning off sites in British waters, has announced the companies which have won "exclusivity" agreements for each area and the Government is hoping the offshore wind farms will produce 32 gigawatts of energy a year, equivalent to a quarter of the UK's electricity needs.

Sea Energy Renewables — which is one of the few bidders to have a British stock market listing — traded up 10.5p today at 81.5p. It has a 25 per cent stake in one of the smaller sites, the 1.3GW Moray Firth Zone.

A consortium of four firms — including Scottish and Southern Energy subsidiary SSE Renewables and RWE NPower Renewables of Germany — have won the rights to Dogger Bank Zone, the biggest site which reckoned to produce 9GW.

SSE and partner Fluor have also won the rights to the 3.5GW Firth of Forth zone. Other sites in the auction included the Bristol Channel, Irish Sea and west of the Isle of Wight.

Energy Secretary Ed Miliband said today's announcement was "one of the strongest signals yet that the UK is locked irreversibly into a low-carbon, energy-secure prosperous future".

The Crown Estate declined to disclose financial terms of the bids.

Comments

Don't Miss
Rock star: Erin Wasson

Rock star

Erin Wasson is the ultimate anti-supermodel
Maybe it’s because she’s a Londoner … Happy anniversary, Ma’am

Happy anniversary

The monarchy has become stronger and more respected in the past 60 years
Victoria Coren: My obsession with children, five proposals a week and why David and I are no power couple

Victoria Coren

David Mitchell and I are no power couple
The Royal Academy of Arts Summer Exhibition preview party

Summer party

Stars at the The Royal Academy of Arts
London gets ready for the Diamond Jubilee - in pictures

Diamond Jubilee

London gets ready - in pictures
The Glamour Awards - stars turn on the style

Glamour Awards

Stars turn on the style
Duchess of Cambridge is pretty in pink at her first Buckingham Palace garden party

Garden party

Duchess of Cambridge is pretty in pink
FIRST review of Ridley Scott's latest sci-fi blockbuster Prometheus

First review

Is Ridley Scott's Prometheus any good?
Fair-weather goths

Fair-weather goths

The sultry shades of summer darks are coming out of the shadows
Dog save the Queen: Corgis surge in popularity

Dog save the Queen

Corgis surge in popularity