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Vattenfall deal for Thanet goes through

11 November 2008

Confirmation has been given that Swedish state-owned power group Vattenfall has struck a deal to build the Thanet offshore wind farm.

The £35 million acquisition will make the firm "one of the biggest wind power operators in Britain", the company said in a statement.

Once built, Thanet, which will be located off the coast of popular Kent holiday resort Margate, will be capable of providing up to 300 megawatts of power.

Speaking about the acquisition, energy and climate change minister Mike O'Brien said: "I am pleased Thanet wind farm will be able to proceed under its new owner, Vattenfall.

"This proves the UK is still a good place to invest in offshore wind despite the current economic difficulties."

He added that the country was a "world leader in this technology" and that this kind of project will "not only help in the fight against climate change" but also create new jobs.

Vattenfall plans to invest a massive £780 million into the project which it acquired from CRC Energy Jersey 1 Limited.

"Great Britain is ideal for wind power with good wind conditions and a long coastline," said Anders Dahl, head of Vattenfall's wind power division.

"We are now looking forward to realising the project and have a wind farm in place by 2010."

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Author: Administrator User