Northland Power has announced that it has signed definitive agreements with ESB for the acquisition of a just under 25% interest in its ScotWind portfolio, which includes Spiorad na Mara and Havbredey. Under the terms of the agreement, Northland Power will retain a 75.5% stake in each project and will continue to lead the development, construction, and operation of the projects.
The partnership with ESB provides Northland Power with an opportunity to bring in an experienced, long-term partner to help build on the development progress already made, the Canadian developer said. All commitments made by the projects prior to the agreement will remain in place, it added.
Spiorad na Mara is a proposed fixed-bottom offshore wind turbine project located approximately 5 km off the west coast of Lewis at its closest point. With a potential capacity of around 840MW, it could meet the average annual electricity needs for around 760,000 Scottish homes with renewable electricity and save around 1.2 million tonnes of harmful CO2 emissions every year.
Havbredey is a proposed floating wind turbine project located approximately 35 km offshore to the north-west of Lewis. With a potential capacity of around 1500MW, it could meet the average annual electricity needs for around 1.3 million Scottish homes with renewable electricity and save around 2.2 million tonnes of harmful CO2 emissions every year.
Northland Power project director for ScotWind Tanya Davies said: “This is yet another exciting milestone for Northland, Spiorad na Mara, and Havbredey. With ESB, we have found a highly experienced and valued partner to help advance the development of the projects, and we look forward to working closely together to realize both projects over the months and years ahead. Our objective is to deliver projects which the Outer Hebrides can be proud of, with substantial benefits for the environment, and the local, regional, and national economies.”
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This acquisition marks an important step towards the realization of Scotland's clean energy ambitions, which aim to generate enough renewable energy to meet 100% of its gross electricity consumption by 2020. By partnering with ESB, Northland Power can leverage the Irish utility's experience and expertise to help bring these projects to fruition, thereby helping to accelerate Scotland's transition to a low-carbon economy.
