May 18, 2015 – E.ON continues to strengthen its position in the European renewables business with successful offshore activities. Today E.ON has confirmed the investment decision for the Rampion Offshore Wind Farm in the UK. The total investment is approximately 1.9 billion Euro. The UK Green Investment Bank plc (GIB) has acquired a 327 million Euro stake in the project.
The project is located in the English Channel, 13 kilometers from the Sussex coast due south of Brighton. The development will have the capacity to generate 400 megawatts of electricity and is expected to generate 1,300 gigawatt hours of renewable energy annually, enough to supply the equivalent of up to 300,000 homes and reduce CO2 emissions by up to 600,000 tonnes a year. The project is comprised of 116 3.45 megawatt wind turbines, associated foundations, an offshore substation and cabling. The water depth ranges from 19 to 40 meters.
Mike Winkel, E.ON board member, said: “Our Rampion project starts from a strong position. Technically, the project is an optimized evolution of our four most recent offshore wind projects. We rely on proven technology and installation processes. With these preconditions E.ON will demonstrate its top-class competencies that we have developed in managing the construction and operation of offshore wind farms.”
With £3.8 billion of funding from the UK Government for investments in the UK’s green economy, Edinburgh-based GIB is the first bank of its kind in the world and a leading investor in the UK’s offshore wind industry. GIB is a key part of the UK’s efforts to achieve its legally binding environmental targets. The mission is to accelerate the UK’s transition to a greener economy.
E.ON will provide construction, operations and maintenance as well as energy management services to the project. This includes the delivery of the connection to the National Grid with marine export cables to shore, approximately 26 kilometers of on- shore cables and onshore grid substation assets. E.ON will divest these offshore transmission assets under a regulated sales process.
E.ON, headquartered in Dusseldorf, Germany, plays a leading role in the development of the renewable industry worldwide. The company is the world’s third largest off- shore wind operator having completed the construction of seven offshore wind farms totaling 1.2 gigawatt with another 507 megawatt currently under construction. Since 2007, E.ON has already invested more than 9.5 billion Euro and will continue to expand the portfolio of renewable energy.