Ormonde Offshore Wind Farm is a 30 turbine, 150 MW, site located in the Irish Sea, 10 kilometres off Barrow-in-Furness in North West England. It is one of four offshore wind farms that Vattenfall operates in the UK and is supported by a wind farm operations and maintenance facility on the dockside in Barrow Harbour.
AMF will take a 49 percent share, worth £237 million (3 billion Swedish Krona) but Vattenfall will continue to operate the wind farm as a majority shareholder.
“The market has shown a considerable interest in Ormonde” said Magnus Hall, President and CEO of Vattenfall. “The main reason is that the wind farm is profitable and considered to have good prospects for stable and continuous profitability. Our partner AMF is a serious and long-term investor. We are therefore very pleased with completion of this deal.”
Peder Hasslev, Head of Asset Management of AMF, added that the Ormonde wind farm investment suits the company very well, given the favourable conditions for off shore wind power in the UK and the partnership with Vattenfall with its deep knowledge of the wind sector.
Vattenfall announced its partnering strategy in 2014 to raise funds to support growth in its renewable business. The company currently plans to invest approximately 50 billion Swedish Krona in new wind power generation by 2020 and to triple wind capacity to at least 6GW in the next ten years.
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