United Kingdom

United Kingdom

Capital constraints force Vattenfall EOWDC reduction

UK: Vattenfall is to reduce its stake in the European Offshore Wind Deployment Centre (EOWDC) due to "constraints on capital".

Aberdeen Bay... site of the Vattenfall wind farm
Aberdeen Bay... site of the Vattenfall wind farm

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The £230 million (€270 million) project planned at Aberdeen Bay, Aberdeenshire would feature 11 turbine positions and be a test-site for next generation offshore wind technologies.

EOWDC is backed by a joint-venture between Aberdeen Renewable Energy Group (AREG) and Vattenfall. Engineering group Technip is also a partner. But Vattenfall says it has had to "prioritise its investments". Peter Wesslau, UK country manager, said that "constraints on our capital budgets" had forced it to seek new investors for the project.

The EOWDC received Scottish Government approval in March. It has also been awarded up to EUR 40 million in EU funding. Last summer, six turbine manufacturers signed memoranda of understanding and offshore work at the project site got under way last week.

EOWDC has become one of the world's most controversial wind projects due to its proximity to a luxury hotel golf course under construction by TV personality and entrepreneur Donald Trump.

Recently, Trump was quoted as saying the project would never get off the ground as Vattenfall would struggle to find investors.

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