The builders of the Sheringham Shoal and Dudgeon offshore wind farm extensions have determined to mix the 2 right into a single challenge.
Equinor holds stakes in each wind farms – 100% in Sheringham Shoal, with Equitix Offshore 3 and Macquarie Asset Administration holding choices to amass a complete of 60% pursuits as soon as a last funding choice is taken.
The Dudgeon extension challenge is owned 35% by Equinor, 35% by Masdar and 30% by China Sources Energy.
The companions have agreed to carry the 2 tasks below a joint possession construction in a single authorized entity, topic to regulatory approvals being obtained earlier than closing.
This goals to derisk the tasks by means of a simplified and collaborative method.
Equinor vice-president of UK renewables Halfdan Brustad mentioned: “Drawing on our expertise of oil and fuel unitisation, we now have utilized key learnings to make this challenge extra aggressive, making certain financial efficiencies and price financial savings.
“By creating one challenge as a substitute of two, we are able to unlock further worth from quantity at scale, while sharing joint infrastructure, maximising native advantages and minimising disruption.”
The mixed extension tasks will add 719MW to the prevailing wind farms, with Sheringham Shoal having a functionality of 317MW and Dudgeon 402MW.
UK authorities granted the event consents in April 2024, the primary time within the UK that two offshore wind tasks below separate possession have been awarded consent below a shared software.
Based mostly off the coast of Norfolk, Sheringham Shoal was accomplished in 2012 and Dudgeon was completed in 2017.
The extension challenge goals to energy practically 1.5 million UK properties and generate over £370 million in direct gross worth added (GVA) to the East Anglian and UK economic system.
This contains supporting greater than 1,800 full time jobs per yr through the development section.
Masdar director of world offshore wind and UK operations Husain Al Meer mentioned: “The institution of this three way partnership will streamline operational efficiencies, and in doing so, speed up the event of further offshore wind capability for the British economic system – a vital contribution to assembly the UK’s formidable clear power targets, and enhancing power affordability, resilience, and safety.”
A spokesperson for the choice holders, Equitix, TRIG and Macquarie Asset Administration added: “We assist this progressive merger of the Sheringham Shoal and Dudgeon extension tasks; it is a crucial improvement that can assist the UK’s transition to internet zero, in addition to delivering extra aggressive power costs and better power safety.”
The challenge companions will now proceed to mature the event towards making a last funding choice.
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