November 4, 2008
Npower Renewables Acquires 50% Stake in GGOWL From SSE
npower renewables, RWE Innogy's wholly owned UK-based subsidiary, has acquired 50% of the equity in Greater Gabbard Offshore Winds Limited from Scottish and Southern Energy. The development of the Greater Gabbard wind farm, excluding the connection to the electricity grid, is expected to require investment of around GBP1.3 billion.
Greater Gabbard Offshore Winds Limited (GGOWL) has all the necessary permits to progress the construction and operation of the wind farm, which when completed, will have a total capacity of around 500MW. The site, which is located 25km off the coast of Suffolk, will comprise 140 wind turbines installed in water depths of between 24m and 34m.
The wind farm will be commissioned in two phases, with the construction work scheduled to be totally completed in 2011, and first export of electricity expected in 2010.
Fritz Vahrenholt, CEO of RWE Innogy, said: "This acquisition is a perfect addition to our existing offshore wind portfolio, and is also an important step towards reaching RWE Innogy's goal of increasing its renewables production capacity to 4,500MW by 2012."