Global Leader in International Renewable Industry News

posted in:

  • Home>
  • Renewable News
  • >
  • Europe,
  • >
  • DECC awards Dudgeon Offshore Wind Farm ‘provisionally affordable' Final Investment Decision

DECC awards Dudgeon Offshore Wind Farm ‘provisionally affordable' Final Investment Decision

Monday, Dec 23, 2013

In order to ensure that the UK remains on track to meet its renewable energy obligation targets by 2020, the Department for Energy and Climate Change (DECC) has just announced that it has chosen sixteen renewable energy generation projects which are ‘provisionally affordable' in the Final Investment Decision Enabling for Renewables (FIDeR) process.

The Dudgeon Offshore Wind Farm is one of only four offshore wind farm projects to have reached this stage of the process, and it means that it could be supported through either investment contracts or the enduring Contracts for Difference (CfD) regime.

Commenting on the company's success in reaching this stage of the FIDeR process, Mr Halfdan Brustad, Chairman of Dudgeon Offshore Wind Limited, said: "This is excellent news, and an important step towards an internal final investment decision relating to the Dudgeon Offshore Wind Farm. This is currently scheduled for mid 2014."

"Assuming we are successful in the final selection of FIDeR projects, which is likely to take place in March 2014, a contract and a known Strike Price will help provide us, as a UK energy generator, with a sustainable and long-term basis for the significant investment needed to construct the Dudgeon Offshore Wind Farm. We will ensure that the projects benefits the UK as much as possible."

The Dudgeon Offshore Wind Farm, which will be located 20 miles off the coast of Cromer in North Norfolk, is expected to have an installed capacity of around 400MW. This equates to enough energy to power up to approximately 410,000 homes and reduces emissions of carbon dioxide by up to 19 million tonnes over its 25 year lifetime, providing 0.5 per cent of the UK's overall annual electricity needs.

Dudgeon Offshore Wind Farm is owned by the two Norwegian companies, Statoil [70%] and Statkraft [30%], with Statoil as the manager for both the construction and the operational phase. Most recently the two companies have worked together to develop and operate the Sheringham Shoal Offshore Wind Farm, the 88 turbine power plant [317MW] which is located 9-17 miles off the coast of Sheringham.

Source: Dudgeon Offshore Wind Farm

posted in:

  • Home>
  • Renewable News
  • >
  • Europe,
  • >
  • DECC awards Dudgeon Offshore Wind Farm ‘provisionally affordable' Final Investment Decision

Other Renewable News

Intersolar North America strengthens focus on growing energy storage market 23-04-2014
GDF SUEZ Energy Resources NA again donates renewable energy certificates to the Houston Museum of Natural Science in Honor of Earth Day 23-04-2014
3M celebrates 10-year record of EPA ENERGY STAR sustained excellence award 23-04-2014
SolarWorld powers spread of grass-roots community solar purchasing from coast to coast 23-04-2014
Canadian Solar to supply 43MW of solar modules in Japan 23-04-2014
Nice-Pak products and PDI complete largest Rooftop solar array in Rockland County 22-04-2014
Renewable Energy Group achieves one billion gallon milestone 22-04-2014
KYOCERA invests in solar projects valued at $38M with U.S. Light Energy 22-04-2014
InterGen announces agreement with IEnova for the purchase of 50 percent of the first phase of the Energía Sierra Juarez wind project 22-04-2014
Southern Company subsidiary and Turner Renewable Energy strengthen renewable portfolio by closing on second California solar plant 22-04-2014