Vattenfall last night vowed to press ahead with their £230million offshore wind project, and welcomed the Supreme Court’s ruling.
Andy Paine, project director for Vatenfall’s Aberdeen Offshore Wind Farm (AOWF), said the Swedish energy giant was looking at ways it will fund the European Offshore Wind Deployment Centre (EOWDC) – and that a decision will be made by mid-next year.
He also said the company, which is wholly owned by the Swedish government, was not looking for another investor in the project due to its recent decision to make a “strategic shift” into more renewable energy production.
Last year it was thought the group was looking to sell all or part of its 75% stake in AWOF.
But last night Mr Paine said: “Right now, we are looking at a financing structure where we will invest in the project. We are not really looking for additional partners at this stage.”
He added the development – which could start producing electricity in 2018 – was key to the company’s plans to develop offshore wind developments across Northern Europe.
The 11-turbine testing and demonstration site will be used by the company as a means to reduce the cost of developing offshore wind, a key plank of the UK government’s “energy reset” plan unveiled by energy secretary Amber Rudd in November.
“Offshore wind will certainly form a big part of the UK generation mix, that is becoming very clear now,” he said.
“Right now our planning is awaiting an investment decision – that’s the point at which we decide to invest – and be generating electricity and exporting power in 2018,” he said.
“It is all about the future. It is all about reducing the cost of energy. “We are very much on course to do that. The project is very relevant for us and for the sector.
“This Supreme Court hearing result is a key milestone making this progress.”
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