Ramco Energy plc (Ramco Energy) has announced that its marine renewables subsidiary, SeaEnergy Renewables Limited (SeaEnergy) has, together with its co-venturers, entered into exclusivity agreements with the Crown Estate for the proposed development of two offshore wind farm sites offshore Scotland. The contract was awarded after result from bidding process was declared by the Crown Estate. The application process for the project closed on October 10, 2008.

Beatrice Offshore wind farm will have SeaEnergy with 25% stake and Airtricity Holdings Limited 75% (Airtricity). The wind farm will be nine miles off the east coast of Scotland in the Moray Firth. The wind farm will have 920 megawatt capacity (MW) with five 184 MW turbines.

In Inch Cape Offshore wind farm SeaEnergy will have 25% stake and RWE npower 75% stake. The wind farm will be 10 miles off the east coast of Scotland in the Outer Tay Estuary. The wind farm will have 905 MW capacity with five 181 MW turbines.

Combined SeaEnergy interest in both projects is 456.25 MW.

All awards announced today are subject to a strategic environmental assessment (SEA), currently being pursued by the Scottish government. The grant of any lease to allow construction of a wind farm will be subject to a favourable SEA outcome, site specific environmental impact assessment and statutory consents.

The Beatrice Offshore wind farm is located 9 miles off the east coast of Scotland in the Moray Firth and covers 49 Square miles and is adjacent to the two existing Beatrice demonstrator turbines installed by Talisman Energy Inc. and Scottish and Southern Energy plc (“SSE”). SeaEnergy holds a 25% interest in the application with Airtricity holding the other 75%. The size of the proposed wind farm will be determined following comprehensive evaluation of the site and its potential interaction with both natural and manmade environments through research and stakeholder consultation, but is likely to be in the region of 920 MW ± 30%.

The Inch Cape Offshore wind farm is located 10 miles off the east coast of Scotland in the Outer Tay Estuary and covers 58 square miles. SeaEnergy holds a 25% interest in the application with RWE npower holding the other 75%. The size of the proposed wind farm will be determined following comprehensive evaluation of the site and its potential interaction with both natural and manmade environments through research and stakeholder consultation, but is likely to be in the region of 905 MW ± 30%.

SeaEnergy expects that a 24 month data gathering period over the sites will be required ahead of planning consents being filed.

The UK government have committed to source 20% of electricity from renewable sources by 2020, with the Scottish government backing a target of 31% of electricity from renewable sources by 2011 and 50% by 2020. The third UK round for offshore windfarm leasing, under which some 25 gigawatt of wind power are planned to be developed, is currently under way as part of plans to reach these targets. SeaEnergy is planning to pursue lease applications in that round.

Ramco and SeaEnergy Chairman Steve Remp said: “Our entry into marine renewables was a natural progression from our long history in the offshore oil and gas industry, where there are numerous synergies with offshore wind. The SeaEnergy concept of co-venturing with industry leaders also mirrors Ramco’s successful history in the Caspian. SeaEnergy’s partners are some of the biggest players in the wind energy business and we are pleased to be able to contribute SeaEnergy’s unique and proven track record in deepwater wind farm development, to drive for future success.

Securing these projects has been a remarkable achievement for SeaEnergy which we only launched nine months ago and I look forward to further success with this team which has taken a greater stake in their business as a result of these awards.”

Joel Staadecker chief executive officer of SeaEnergy said: “We are delighted with the outcome of the Scottish offshore wind application process. As one of the few indigenous Scottish offshore development companies, we look forward to teaming with both Airtricity and RWE npower renewables to help meet the Scottish Government’s renewables energy targets.

These awards, representing a significant milestone in SeaEnergy’s strategy, would take us nearly half way to our five year net ownership target of one gigawatt Today’s announcement will allow the team to apply their significant experience, as world leaders in deep water offshore wind consenting, development and deployment, as we work on these projects and look to gain further acreage, in the forthcoming UK third round of offshore wind farm licensing.”