Spanish renewable energy developer EDP Renováveis (EDPR) has agreed to divest a stake of 23% in the Moray Offshore Windfarm in the UK North Sea for £21m to Engie.
The sale agreement made through its subsidiary EDPR UK will see the participation of Engie in the development and operation of the offshore wind project located off the Scottish coast in the Outer Moray Firth.
Engie and EDPR have been partners in offshore projects in France and also in floating projects in France and Portugal.
In January 2010, EDPR subsidiary Moray Offshore Windfarm (East) had bagged the right to develop the Moray offshore wind project during the UK Round 3. Four years later, it secured the approval from the Scottish government to develop up to 1,116MW of wind energy at the offshore site.
The Moray Offshore Windfarm is expected to cover the electricity requirements of about 700,000 UK households. It will consist of three offshore windfarms named as Telford, Stevenson and MacColl which are planned to be built about 22km from the Caithness coastline.
According to EDPR, the offshore wind project will see installations of up to 62 turbines of 6MW to 8MW capacity on each of the three wind farms.
During the peak construction phase, about 2,400 jobs are expected to be created in Scotland and once commissioned, the offshore windfarm would open up 330 jobs for its operation and maintenance.
Last month, EDPR had completed sale of 49% stake in its 422MW wind portfolio in Portugal to ACE Portugal Sàrl for €248m.