EnergyWatch

MHI Vestas' largest offshore wind farm gets financial green light

Financing for almost 1 GW of offshore wind capacity is secured. We now look forward to making the final decision and beginning installation phase, says developer.

The path is now clear to get started on the 950 MW offshore wind farm Moray East. 16 banks, Denmark's Export Credit Agency (EKF) as well as Japan Bank for International Cooperation (JBIC) have now pledged financing for the British offshore wind farm, owned as consortium MOWEL by energy companies EDP Renováveis, Engie and Mitsubishi subsidiary Diamond Green Limited. Now only the final financial decision remains and is expected to made before the end of the year, reports the consortium behind the project.

"We look forward to proceeding to financial close and progressing with the construction of the wind farm," writes Engie UK and Ireland CEO Wilfred Petrie in a press release.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Ørsted joins the lottery for Thor

The regional director for Europe confirms that the company was among the bidders who are prepared to pay the state treasury to set up the 1,000MW offshore wind farm Thor.

Further reading

Related articles

Latest News

See all jobs