Rampion Offshore Wind Farm receives £1.3bn green light from E.ON and UK Green Investment Bank

Media release

Monday, 18 May, 2015

Rampion Offshore Wind Farm receives £1.3bn green light from E.ON and UK Green Investment Bank

• A partnership between E.ON and the UK Green Investment Bank plc (GIB) means the project, 13km off the Sussex coast, will now enter construction;
• Construction could power around 350 to 450 jobs during the main building phase;
• The completed wind farm could provide enough electricity for around 300,000 homes;
• Secretary of State for Energy and Climate Change, the Rt Hon Amber Rudd MP, says: "This huge
investment is a vote of confidence in the UK"

E.ON has today (Monday) confirmed that it will invest in and build the £1.3bn, Rampion Offshore Wind Farm, which will be situated 13km off the Sussex coast, alongside partners in the project, the GIB(1).
The partnering approach taken by E.ON and GIB, an organisation which has a mission to accelerate the UK's transition to a greener economy, means the green light has been given for full construction to begin on the 400MW capacity, 116 turbine(2), 72km2 wind farm. When complete the wind farm could provide enough electricity to supply the equivalent of around 300,000 homes(3) and reduce CO2 emissions by up to 600,000 tonnes(4) a year.

Secretary of State for Energy and Climate Change, the Rt Hon Amber Rudd MP, said: "This huge investment is a vote of confidence in the UK, creating local jobs, bringing business opportunities and providing clean, home-grown energy.

"The UK is the best place in the world to invest in offshore wind, thanks to the certainty the Government is able to provide to attract private finance in partnership with the Green Investment Bank."

E.ON UK Chief Executive, Tony Cocker, said: "This is an important milestone for what is a strategically important project for the UK. At around £1.3bn this investment by E.ON and our partners at the Green Investment Bank could be one of the biggest capital projects confirmed in Britain this year and we are proud of the leading role we are continuing to take in helping to transform the UK's energy infrastructure."
Shaun Kingsbury, Chief Executive of the UK Green Investment Bank plc, said: "Our investment gives the developer the confidence to begin construction on this important offshore wind project, boosting UK energy supply and generating enough power annually for around three hundred thousand homes."

Construction of the onshore substation in Twineham is planned to start in June, closely followed by preparation works for the onshore cable route. Offshore construction will commence in early 2016 with planned completion in 2018.

To update local people of the work involved, E.ON will be holding community information events over the forthcoming weeks and months. These will be publicised locally and will be aimed at keeping communities local to the construction site informed.

Chris Tomlinson, E.ON Development Manager for the Rampion Wind Farm, said: "We're delighted to be able to announce our construction plans and we'll continue to keep the local community informed over the coming months and years as our onshore and offshore activities progress."

During the planned 3 year offshore construction period it is estimated that around 250 to 300 jobs will be created and local vessels utilised, with 40 roles being based at the project management facility in Newhaven Port. It is expected that a workforce of up to 100 will be needed for the onshore cable route and around a further 40 to 60 people at the onshore substation during onshore construction. Once the wind farm is commissioned and fully operational, it is envisaged that up to 65 full time permanent jobs will be created at the operations and maintenance base.

The Rampion project remains set to become the first offshore wind farm off the south coast of England and is believed to be the first UK Round 3 project to enter construction.

Ends

Notes to editors

1 = The UK Green Investment Bank plc (GIB) was launched in November 2012. With £3.8bn of funding from the UK Government, it is the first bank of its kind in the world. Its mission is to accelerate the UK's transition to a greener economy, and to create an enduring institution, operating independently of Government. GIB is wholly owned by HM Government. The Company is not authorised or regulated by the Financial Conduct Authority or the Prudential Regulation Authority. A wholly owned subsidiary UK Green Investment Bank Financial Services Limited, is authorised and regulated by the Financial Conduct Authority.
2 = MHI Vestas V112-3.45MW. For more information contact Stewart Mullin at MHI Vestas Offshore Wind stmin@mhivestasoffshore.com.
3 = Based on an average annual domestic household electricity consumption of 4,700kWh (DECC):
1,366,560,000KWh / 4,700KWh = 290,757 homes.
4 = The calculation is made using a static figure of 430g/kWh representing the energy mix in the UK (1,366,560,000KWh x 430(g/kWh) / 1,000
= 587,621 tonnes pa.

For more information contact:

Victoria Blake (02476 181304 victoria.blake@eonenergy.com) Roxanne Postle (02476 195785 roxanne.postle@eon-uk.com) Scott Somerville (07889 771 804 scott.somerville@eon-uk.com)

For further information concerning the UK Green Investment Bank plc contact: Ross Nisbet (0330 123 2153 ross.nisbet@greeninvestmentbank.com)

The information (including any forecasts or projections) contained in this press release (the "Information") reflects the views and opinions of E.ON on the date of this press release. The Information is intended as a guide only and nothing contained within this press release is to be taken, or relied upon, as advice. E.ON makes no warranties, representations or undertakings about any of the Information (including, without limitation, any as to its quality, accuracy, completeness or fitness for any particular purpose) and E.ON accepts no liability whatsoever for any action or omission taken by you in relation to the Information. Any reliance you place on the Information is solely at your own risk. This press release is the property of E.ON and you may not copy, modify, publish, repost or distribute it. © E.ON 2015

Posted 20/05/2015 12:11 by Jin Sandhu