SSE acquires stake in wind farm

The wind farm is currently being built by Dong Energy in the Irish Sea. Once complete it is expected to have an average load factor of around 43 per cent and produce around 1,300GWh of electricity a year.

Under the agreement, Dong Energy will retain a 74.9 per cent stake in the farm. SSE will pay around £39m for its stake, of which approximately £17m will be subject to the wind farm’s operational performance.

Ian Marchant, chief executive of SSE, said: ‘Major offshore wind developments such as Walney benefit from a partnership approach that blends the skills and experience of each party, and this agreement between SSE and Dong Energy does exactly that.’

Construction will be undertaken in two phases, with the first phase due to begin in the spring of 2010. The second phase will begin in the spring of 2011 and will feature new 120m rotors, to be supplied by Siemens. It will enter commercial operation in two phases: during the first half of 2011 and towards the end of 2011, and will cost just under £1bn.