Blow for Scottish wind project as Vattenfall reduces stake

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The $353m European Offshore Wind Deployment Centre (EOWDC) has run into difficulty with the news that Vattenfall has decided to reduce its stake in the project.

The 11-turbine scheme is a joint venture with engineering firm Technip and the Aberdeen Renewable Energy Group (Areg) and has come under sustained opposition from US business tycoon Donald Trump who has a golf development near the area.
European Offshore Wind Deployment Centre
Vattenfall said it was having to “prioritise its investments” but Peter Wesslau, Vattenfall’s UK country manager, has urged other backers to come in: “The EOWDC is a scheme that will benefit the whole offshore wind industry as it will help to drive down the cost of generation and secure industrial benefits for the UK.

“We therefore believe that the EOWDC deserves wider support through the forging of a strategic industrial alliance.

“However, like all energy companies across Europe, there are constraints on our capital budgets and so Vattenfall has had to prioritise its investments which means calling on new investors to help realise the more than à‚£230m investment in the EOWDC.”

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