Perth-based utility giant SSE has sold a major stake in one of Scotland’s major offshore windfarm developments.
The firm yesterday confirmed Copenhagen Infrastructure Partners (CIP) had taken a 25% interest in the Beatrice Offshore Windfarm Ltd (Bowl) project off the coast of Caithness.
The move the value of which was not disclosed yesterday sees SSE’s stake in the project reduced to 50%.
It puts CIP on the same footing as joint venturer Repsol, which also holds 25%.
By general industry standards, the 664MW scheme would cost around £2 billion to construct and is one of the most significant projects being progressed in Scottish waters.
A final investment decision on whether to go ahead with the buid-out of the array is not expected until early in 2016.
Brian McFarlane, the Bowl project director, said: “The Beatrice project has continued to make significant progress since our review of offshore development projects in March this year, achieving consent and securing an investment contract from the UK Government.
“Whilst there is still a significant amount of work to be done, this latest milestone allows the project to continue progressing towards a final investment decision in 2016.
“We will be working closely with Repsol, CIP and our supply chain partners to further reduce costs and refine the development and construction programme.”
Lindsay Leask from Scottish Renewables said: “This announcement is fantastic news for the Beatrice project, and demonstrates how attractive Scotland’s offshore wind industry can be to investors.”