Wind

Vattenfall acquires Britain’s largest offshore wind farm

10 Novembr 2008 – Vattenfall has acquired the 300 MW Thanet Offshore Wind project off Margate, Kent, for the sum of £35m ($55m).

On completion, the wind farm will have an installed capacity of some 300 MW. This will be almost three times the size of Lillgrund, Vattenfall’s largest wind farm in Sweden to date, and about the same size as Horns Rev in Denmark, in which Vattenfall has a majority stake.

Vattenfall acquired the rights to build Thanet Offshore Wind from CRC Energy Jersey 1 Limited in competition with other energy companies. The total investment for completing the wind farm is in the order of around £780m.

The acquisition of Thanet Offshore Wind will make Vattenfall one of the biggest wind power operators in Britain. Vattenfall already owns the Kentish Flats wind farm off Whitstable and earlier this autumn acquired the wind power companies AMEC Wind Energy Ltd and Eclipse Energy Plc.

The acquisition of Thanet Offshore Wind is a further step towards Vattenfall’s goal of increasing wind power production from approximately 1.5 TWh today to 50 TWh by the year 2030 and to become the fastest growing wind power developer and operator in North Europe.