Canada-based Enbridge Inc. has acquired a 24.9% interest in the 400 MW Rampion offshore wind project in the U.K. The company's total investment in the project is expected to be C$750 million inclusive of all interest during construction, transaction costs and a development fee.
Located off the Sussex coast, the project was developed and is being built by E.ON Climate & Renewables UK Ltd., a subsidiary of E.ON SE. Construction started in September, and the project is expected to be online in 2018. The wind farm will feature 116 Vestas V112-3.45 MW turbines and is backed by revenues from the U.K.'s fixed-price Renewable Obligation Certificates program and a 15-year power purchase agreement.
‘Offshore wind is a natural next step for Enbridge's significant wind business,’ says Enbridge President and CEO Al Monaco. ‘Further developing our expertise in this business will position Enbridge to participate in future offshore developments.’
Enbridge notes that it has previously partnered with E.ON on the 200 MW Magic Valley wind project in Texas and the 200 MW Wildcat wind project in Indiana. Enbridge holds an 80% interest in both projects, which are operated by E.ON.