19th Feb 2015 14:34
LONDON (Alliance News) - An wind farm offshore Yorkshire that will have the capacity to power two million homes has been approved by the UK government and will be funded by an international consortium which includes SSE PLC.
The Daily Mail said the new wind farm will be the "world's biggest offshore wind farm" and provide around 2.5% of Britain's electricity.
The wind farm will be based 130 kilometres, off the coast of East Riding in Yorkshire and will include up to 400 wind turbines generating 2400 megawatts of power, enough to power almost two million homes, the UK Department for Energy and Climate Change said.
The project, named the Dogger Bank Creyke Beck A and B wind project, will be funded by Forewind, an international consortium with four members - SSE, RWE Innogy UK, Statkraft and Statoil.
The Daily Mail said that the project could cost up to GBP8.0 billion, which will be paid by Forewind, but added that the companies will make their money back within a decade because the UK government will guarantee them a fixed price for the electricity they produce.
"Making the most of Britain?s home grown energy is creating jobs and businesses in the UK, getting the best deal for consumers and reducing our reliance on foreign imports. Wind power is vital to this plan, with GBP14.5 billion invested since 2010 into an industry which supports 35,400 jobs," said Ed Davey, energy and climate change secretary.
The Department said that around half of the costs to build and operate the wind farm will be spent on buying services and products from UK businesses, and said the investment for the new wind farm is "one of the largest investments in the Humberside area in the last 50 years."
SSE shares were down 0.7% to 1,533.00 pence per share Thursday afternoon.
http://www.dailymail.co.uk/news/article-2959377/Go-ahead-world-s-biggest-offshore-wind-farm-British-waters-cost-10billion-green-levies.html
By Joshua Warner; [email protected]; @JoshAlliance
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