Canadian Energy company Enbridge joins E.ON and GIB in Rampion offshore wind project
E.ON has today announced that the Canadian energy company Enbridge has joined the Rampion offshore wind project by acquiring a 24.9 percent interest. Enbridge will become one of three shareholders in Rampion Offshore Wind Limited. E.ON will remain the controlling shareholder at 50.1 percent, with the UK Green Investment Bank plc (GIB) continuing to hold a 25 percent interest.
Rampion is a 400 megawatt offshore wind farm project in the English Channel, to be located 13-kilometers off the Sussex coast south of Brighton and remains set to become the first offshore wind farm off the south coast of England. The development is expected to supply the equivalent of up to 300,000 homes and to reduce CO2 emissions by up to 600,000 tonnes a year. E.ON will manage construction and operation of the Rampion Offshore Wind Farm. The project received the final investment decision in May 2015, started construction in September and is expected to be fully operational in 2018.
E.ON and Enbridge are already partners in the Magic Valley wind farm located in Texas and the Wildcat wind farm in Indiana. Enbridge holds an 80 percent interest in both 200 megawatt onshore projects; both are operated by E.ON. “Thanks to our excellent project portfolio and our capabilities there is a strong demand in the market for assets built and operated by E.ON. We are happy to strengthen our partnership with Enbridge as a reliable partner, who shares our approach of combining high class assets and safe operations”, said Michael Lewis, COO of E.ON Climate & Renewables.
Ed Northam, Head of Investment Banking, UK Green Investment Bank, added: “Securing Enbridge’s first investment in offshore wind is a major success for Rampion and the wider development of green infrastructure projects in the UK. The company’s background in North American renewables and pipelines complements the expertise of the existing shareholder group. Our collective experience will help realise the successful construction and operation of the wind farm.”
Enbridge Inc. is a North American leader in delivering energy, operating in Canada and the U.S. the world's longest crude oil and liquids transportation system. The company is also involved in natural gas gathering, transmission and midstream businesses as well as in power generation and transmission. Enbridge employs more than 10,000 people.This press release may contain forward-looking statements based on current assumptions and forecasts made by E.ON Group Management and other information currently available to E.ON. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. E.ON SE does not intend, and does not assume any liability whatsoever, to update these forward-looking statements or to conform them to future events or developments.