At the same time, Vattenfall is preparing to sell its 50% share in East Anglia ONE to ScottishPower Renewables. Both partners will continue to develop the rest of the East Anglia Development Zone with the potential for a further 6GW of capacity.
-This is welcome news for East Anglia ONE. It has taken five years to reach this point since The Crown Estate awarded the lease to Vattenfall and SPR and almost nine months since being awarded development consent. Now SPR will take on sole responsibility for delivering East Anglia ONE as the purchase of Vattenfall's 50% share in the project is finalized, says Gunnar Groebler, Head of BU Renewables at Vattenfall.
Vattenfall is committed to growing its wind business across the European markets it operates in. The divestment of our 50% shareholding in East Anglia ONE to SPR means that Vattenfall can prioritise investment in the UK and the rest of our European wind portfolio.
-We still see a promising future for the rest of the East Anglia Development Zone – and UK offshore wind generally - and we will continue to work with ScottishPower Renewables to deliver the remaining five projects, says Gunnar Groebler.
Contracts for Difference, is the mechanism whereby renewable power projects receive financial support for the power they produce. In the first round, CfDs have been awarded in an auction process.
The results of the UK Government's auction for CfDs
For further information, please contact:
Peter Stedt, Press Officer, Vattenfall,
phone: +46 70 597 73 38
Vattenfall's Press Office,
phone: +46 (0) 8 739 50 10,