New partnership committed to Celtic Sea and maximising the opportunity
EDF Renewables UK is entering into a partnership with Irish renewable energy developer ESB, and global offshore wind investor, Reventus Power to develop Gwynt Glas Floating Offshore Wind Farm in the Celtic Sea.
The partnership sees EDF Renewables UK, ESB and Reventus Power each owning a 33.33% share. The partnership confirms the trio’s commitment to delivering floating offshore wind in the Celtic Sea and expects to bid in The Crown Estate’s Leasing Round 5. DP Energy remain a development partner in the project, leveraging their local presence and engagement.
The Gwynt Glas project team has been active in the Celtic Sea region for some time and made significant progress in maximising the opportunity including hosting supply chain events and successfully implementing an award-winning programme to inspire the future workforce, Destination Renewables.
Matthieu Hue CEO of EDF Renewables UK said: “We are delighted to welcome ESB and Reventus Power onboard as our new joint venture partners to Gwynt Glas.
“We already work with ESB on other projects, including Neart na Gaoithe, our offshore wind farm, currently under construction in the Firth of Forth and the Stornoway onshore wind farm in the Western Isles.
“We have a close relationship with the Reventus Power team, having a worked with them on Provence Grand Large, France’s first floating offshore wind farm.
“We are fully committed to developing Gwynt Glas Floating Offshore Wind Farm, and look forward to delivering clean energy, supporting skilled jobs and boosting local economies.”
Jim Dollard, Executive Director, Generation Trading at ESB said: “ESB is delighted to be joining two experienced partners in a collective effort to secure seabed rights in The Crown Estate Round 5 seabed allocation process.
“As ESB drives towards its Net Zero by 2040 target, it is recognised that offshore wind will be a crucial contributor to that goal. Floating offshore wind in particular has the potential to really turn the dial, not just here in the UK but also in Ireland where we have one of the best floating offshore wind resources in the world. I look forward to growing our relationship with EDF Renewables UK and I welcome the opportunity to work with Reventus Power.”
Michael van der Heijden CEO of Reventus Power said: “We are delighted to join with EDF Renewables and ESB, two industry leading players, in the Gwynt Glas consortium. Together with our partners, we bring a deep understanding of the floating offshore wind market and we look forward to participating in the forthcoming UK Round 5 Leasing Round”
“As Reventus Power expands its global offshore wind portfolio, this Celtic Sea opportunity aligns with our ambitions to originate and invest in the development of high quality offshore wind projects globally.”
Ends
About EDF Renewables UK and Ireland
EDF Renewables UK and Ireland is a subsidiary of the EDF Group and one of the world’s largest low carbon electricity companies. Our investment and innovation is reducing costs for consumers and bringing significant benefits for communities. With our operating portfolio of 43 renewable energy sites including battery, onshore and offshore wind (together totalling more than 1.5 GW) we are providing much needed affordable, low carbon electricity across the UK and Ireland. We have an expanding portfolio with almost 14 GW of projects in planning and development, including wind, battery and solar PV.
Find out more at www.edf-re.uk
About ESB
ESB was established in 1927 as a statutory body under the Electricity (Supply) Act, 1927. With a holding of 96.9 per cent, ESB is majority owned by the Irish Government. The remaining 3.1 per cent is held by the trustees of an Employee Share Ownership Plan. As a strong, diversified utility, ESB operates across the electricity market, from generation through transmission and distribution, to supply of customers in addition to using our networks to carry fibre for telecommunications.
As at year-end 2022, ESB has a regulated asset base of approximately €12.0 billion (comprising ESB Networks €9.7 billion and NIE Networks €2.3 billion), a 30 per cent share of generation in the all-island market, and supply businesses supplying electricity and gas to over two million customer accounts throughout the island of Ireland and Great Britain. At June 2023, ESB Group employed almost 9,000 people.
About Reventus Power Ltd.
Reventus Power originates and invests in the development and long-term management of offshore wind projects globally. As a portfolio company of CPP Investments, Reventus invests flexibly, and at scale, across the asset lifecycle.
Reventus invests alongside strategic partners, bringing deep in-house technical, financial, and commercial expertise to projects across three continents.
The team is proven in delivering value through the realisation of high-quality offshore wind projects around the world.
