Moray East Offshore Wind Farm (offshore)

Located 22km off the Scottish coast, once operational the Moray East offshore wind farm will have a capacity of 950 MW. Moray East is currently under construction with a scheduled Commercial Operations Date of 2022, with Financial Close having been achieved in December 2018. The project is owned by Diamond Green Limited (“DGL”, 33.4%), EDPR (33.3%), ENGIE (23.3%) and China Three Gorges (10%). Diamond Green Limited is a company owned byDGE (50%), Kansai Electric Power Co., Inc (“KEPCO”, 30%) and Mitsubishi UFJ Lease & Finance Company Limited (“MUL”, 20%).

The consortium has secured financing for the construction of the wind farm from a syndicate of 16 commercial banks, as well as EKF, Denmark’s Export Credit Agency and the Japan Bank for International Cooperation (JBIC). In September 2017, the project was awarded a 15-year Contract for Difference (“CfD”) by the UK’s Department for Business, Energy & Industrial Strategy (“BEIS”) at £57.5/MWh (2012 tariff-based).