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Offshore wind farm victory sparks Sea Energy
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08 January 2010
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.
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