Ocean Winds to sell
The EDPR and Engie's joint venture Ocean Winds joint venture has issued its UK accounts for 2024 saying it will seek to sell shareholdings in its existing projects.
Construction activities on the £2.5bn 882MW Moray West scheme are due to be completed this year.
In 2023 Ocean Winds sold a 16.6% stake in the 950MW Moray East to Equiitx and it now has 33.3% of the scheme. It has 67% of Moray West.
In the accounts Ocean Winds said it will cancel the ScotWind lease option for the 500MW Arven South project off the Shetlands due to grid connection issues but is pressing ahead with the 1.8GW Arven North floating scheme. Mainstream is the joint venture partner on the schemes but it has had limited involvement since last summer.
Ocean Winds' other UK scheme is the 1.5GW Celtic floating scheme off Wales which could be developed in phases.
