Ocean Winds, a 50-50 joint venture between EDP Renewables and Engie, has successfully bid for a Contract for Difference (CfD) from the UK Government, for its Moray West Offshore Wind Farm (882MW).
The project was awarded a 15-year CfD for the delivery of 294MW offshore wind generation at 37.35£/MWh (in 2012 prices). Obtaining a CfD is a key milestone for project development, bringing it closer to the final investment decision (FID) and financial close (FC). Moray West is expected to reach both key final development steps in the coming months, while ramping up construction activity. First power is expected in 2024.