innogy enters Ireland’s offshore wind market by partnering on development project
> innogy takes equal share of circa 600MW Dublin Array project
> innogy continues to make further progress on its strategic growth plans for renewables division
innogy SE, one of Europe’s leading energy companies, through its Irish subsidiary Innogy Renewables Ireland, has partnered with Irish company Saorgus Energy to continue the development of a major offshore wind project in Ireland. innogy will take an equal share of the Dublin Array Offshore Wind Farm Project.
Dublin Array is a circa 600MW offshore development project, located in the Irish Sea off the coast of Dublin, and has been developed so far by Saorgus Energy. Saorgus Energy and innogy have now agreed and established a strategic partnership to further progress the development through to planning consent. This next phase of development will be led by innogy with support from Saorgus Energy.
"I am delighted that we have secured our involvement in a second Irish project, following our acquisition of the 10MW Dromadda Beg onshore wind farm last year, providing support for Ireland to decarbonise the energy sector over the coming years. These acquisitions are a perfect fit with our strategy to deliver sustainable growth in accordance with innogy's financial targets to maximise value for the company and our shareholders, and to generate sustainable renewable energy for consumers."
Aidan Forde, Director of Saorgus Energy, adds: "We are pleased that innogy, with their extensive offshore wind experience, are on board with us in the development of the Dublin Array project. Once operational, Dublin Array will help enable the Irish Government to meet its 2020-2030 EU energy targets, will contribute to increasing the diversity of renewable energy supply in Ireland and will deliver much-needed clean electricity to Dublin."
innogy is one of the world’s leading developers, constructors and operators of offshore wind farms.
With currently 925 MW of installed capacity, innogy is one of the world’s leading operators of offshore wind farms. The company owns and operates, either on their own or together with partners, seven offshore wind farms in three different European countries. German offshore wind farm Nordsee One (332 MW, innogy share: 13.5%) started commercial operations at the end of last year. Galloper offshore wind farm, constructed by innogy (353 MW, innogy share: 25%) off the coast of Suffolk in the UK, is currently in the final stages of commissioning. One of the key development projects is the 860 MW Triton Knoll offshore wind farm in the UK (100% innogy), for which innogy received a Contract for Difference in the last auction round in 2017.
The strategic partnership for the development of Dublin Array Offshore wind farm is another milestone in capturing value accretive growth options. Dublin Array further strengthens innogy’s already significant development pipeline in both on- and offshore wind as well as solar. innogy will continue to execute on this pipeline under value-optimizing principles, in particular considering various options for partnerships and financing.