Release date: 2 July 2015
Promoter – Financial IntermediarySIEMENS AG, RWE AG, UK GREEN INVESTMENT BANK PLC
The project concerns the design, construction, and operation of a medium-scale offshore wind farm with ca. 340 MW total capacity. The project site is located 27km off the coast of south-east England, adjacent to an existing wind farm. The project's grid connection assets will be transferred to an independent operator (OFTO) after construction.
The development of offshore wind energy will support EU and national targets for renewable energy generation and contribute to security of energy supply and environmental objectives. The project is therefore eligible under Article 309 point (c) common interest (energy/renewable energy). The project will further contribute to the Bank's priority objectives for energy sector lending related to renewable energy and climate action (transversal).
- Energy - Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
GBP 225 million (EUR 312 million)
Total cost (Approximate amount)
GBP 1162 million (EUR 1608 million)
The UK government conducted a strategic environmental assessment (SEA) in 2002/03 for its plan to develop offshore wind in its territory. Three large areas - the Thames Estuary, the Greater Wash and the North West (Irish Sea) - identified by the government as being potentially suitable, were assessed. The project site falls within the Thames Estuary area. The project is an extension to an existing 504 MW offshore wind farm. By virtue of its technical characteristics the project is classified as an Annex II project according to the Directive 2011/92/EU on environmental impact assessment (EIA). National legislation requires a full EIA including public consultation for offshore wind farms. The promoter's environmental impact statement analyses the project's environmental and social impacts against the backdrop of the adjacent offshore wind farm. It concludes that there is no significant cumulative impact related to the project. There are a number of local, national and international designated sites of nature conservation importance in the vicinity of both the onshore and offshore components of the project. The promoter's environmental studies conclude that the project has no significant negative impact on these sites. Consents related to the project's onshore and offshore activities were granted by the competent authorities in 2013. Details of the environmental authorisation process, including its consultation process and appropriate assessment, will be assessed during appraisal to verify compliance with the Bank's environmental policy.
Directive 2004/17/EC does not apply to contracts awarded by contracting entities and intended to enable them to carry out electricity supply in England, Scotland and Wales (Decision 2007/141/EC). The project is therefore considered to be exempt from public procurement requirements. This will be confirmed during appraisal.
Signed - 29/10/2015
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).