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North Sea wind consortium agrees record £18bn buildout
The package locks in fifteen years of fixed-price offtake for two thirds of the gigawatts at stake.
BW
Ben Whittaker
Yesterday · 7 min read
A consortium of European and Asian investors has signed the largest offshore wind financing package ever assembled in UK waters, with construction set to begin off the Aberdeenshire coast within eighteen months.
The £18bn package combines export credit, sovereign-linked debt and a long-dated offtake agreement with three of the big six suppliers — an arrangement that effectively prices two thirds of the output for the next fifteen years.
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