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.

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