Powergen Renewables announced today that it has bought the rights to develop the Robin Rigg offshore wind farm from investment bankers, Babcock & Brown Ltd.
The deal involves Powergen Renewables buying the share capital of two Robin Rigg project companies – Solway Offshore Ltd (SOL) and Offshore Energy Resource Ltd (OERL) – and the development rights associated with the two projects.
The wind farm, to be located in the Solway Firth around 9km from the Scottish coast and 12km from the Cumbrian coast, will consist of 60 turbines. According to Powergen Renewables, the turbines will produce enough power for the annual electricity needs of around 140,000 homes.
The £200 million project has already received consent from the Scottish Executive and the DTI, with the Government awarding £9 million in capital grants to the project.
The wind farm is expected to make a major contribution towards Scottish Executive and UK Government targets for renewable generation. Construction is not expected to start until 2005.