Red Rock Power has formed a 50:50 joint venture with Irish energy company ESB to develop the up to 1GW Inch Cape offshore wind farm off Scotland.
The JV will be able to harness both companies’ “wealth of expertise within the wind energy sector and support their mutual growth ambitions as they continue to strengthen their respective UK wind portfolios, with the potential to collaborate on other projects in the future”, the partners said.
It was understood at one point over the summer a deal between the utility and Red Rock was seen as unlikely after a third party entity lodged a bid. However, ESB has now prevailed.
Inch Cape is set to be constructed 15km off the Angus Coast in the east of Scotland and will connect into the national grid at Cockenzie in East Lothian.
Red Rock Power chief executive Guy Madgwick said: “Inch Cape will, without a doubt, make a considerable impact on the country’s clean energy targets and create significant opportunities to support a green economic recovery.
“We look forward to working alongside our colleagues at ESB on the project and to applying synergies within our teams to drive the development forward to a successful build.
“We sought a partner who shared our passion for renewable energy, supporting UK industry growth and tackling climate change.
“We are excited to be working with ESB and for the potential to collaborate on other projects in the future as we continue to expand our company both in the UK and across Europe.”
ESB executive director generation and trading Jim Dollard said: “We look forward to pooling our expertise and experience with a partner of the calibre of Red Rock Power to deliver the Inch Cape project.
With consent for up to one gigawatt and 72 turbines, this is a milestone investment in offshore wind for ESB and our ambition to lead the transition to a low-carbon future.
“This builds on similar partnerships ESB has with leading renewable energy companies in developing offshore wind projects off the coast of Ireland and Great Britain.”
Scottish Energy Minister Paul Wheelhouse said: “Offshore wind in Scotland’s 462,000km2 of waters will play a vital part in achieving our net zero ambitions while helping to drive a strong, green economic recovery.
“Inch Cape has the potential to significantly contribute to this recovery, to help deliver Scotland’s net zero greenhouse gas emissions by 2045 and to support the Scottish supply chain.
“Therefore I welcome the partnership between Red Rock and ESB as the project moves forward to the next phase.
“Our seas are host to some of the best offshore wind resources in the world, supporting the continuing growth and expansion of the sector.
“We want to harness this huge resource for our energy system, unlocking significant investment in the supply chain to create more green jobs across the sector and support the wider decarbonisation of our energy system, including electrification of transport and heat.”