Sweden’s Vattenfall to invest $690 mn in UK wind farm projects
12 Jul 2013
Swedish state-owned energy company Vattenfall yesterday said that it would invest £460 million ($690 million) in building one of the largest wind farms in the UK that will power up 166,000 homes.
"As the British government sees the extension of land-based wind power as an important component to economic growth and supports its development, the British markets is profitable for us," said Peter Smink, head of Vattenfall's sustainable energy projects.
The Stockholm-based company will build two wind farms in the UK with the largest project being Pen y Cymoedd, located in south Wales, near the Neath Port Talbot and Rhondda Cynon Taf.
The 76-turbine wind farm having a combined capacity of 228 MW, will be the biggest onshore project in England and Wales and construction will start in 2014 and is expected to generate power by the end of 2016.
To be built at a cost of cost £400 million, Pen y Cymoedd project is expected to have a 25-year lifespan, contribute £45 million pounds to the local economy, and generate electricity equal to the annual electricity need of around 140,000 homes.
The construction of the 18-turbine Clashindarroch Wind Farm, in Aberdeenshire, Scotland at a cost £60 million, has just started and will be completed in early 2015.
Clashindarroch Wind Farm will generate 36.9 MW, which is equivalent to the annual electricity need of 22,000 households.
Since entering the UK market in late 2008 Vattenfall has invested in five onshore and offshore wind farms and currently operates the Thanet Wind Farm, one of the worlds largest offshore wind farms, located 11km off the coast of Kent.
''Currently, the UK market for investing in onshore wind power is an attractive market for Vattenfall because the Government has backed its development as a crucial part of its growth agenda, said Smink
Vattenfall said that the investment decision is in line with the company's ambitions to increase its share of renewable energy generation and further strengthen its position as a leading supplier of wind power in the UK.
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