Published: 27 March 2018 27 March 2018
EDP Renewables (EDPR), through its subsidiary EDPR UK, has closed the sale of a 20% stake in the Moray Offshore Windfarm (East) Limited (MOWEL), to Diamond Generating Europe Limited (DGE), a wholly owned UK-based subsidiary of Mitsubishi Corporation.
Both companies have also reached an agreement on an additional 13.4% stake to be sold by EDPR to DGE under the same terms and conditions. In September 2017, MOWEL was awarded by the UK’s Department for Business, Energy & Industrial Strategy with a 15-year Contract for Difference (CfD) for the delivery of 950 MW of offshore wind generation at £57.5/MWh (2012 tariff-based). Moray Offshore Windfarm, located in the North Sea off the coast of Scotland, is expected to be completed by 2022.