A south-east Asian energy giant has bought a near-half share in a demonstrator wind farm off the coast of Northumberland.
Malasyian utility company Tenaga Nasional Berhad (TNB) has acquired a 49% stake in the Blyth Offshore Demonstrator project via its wholly owned renewable energy subsidiary Vantage RE.
TNB is the largest electricity utility in Malaysia, with assets of more than £17bn. It said the investment into the Blyth demonstrator would allow it to diversify its portfolio into renewable energy.
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French firm EDF remains the majority shareholder in the scheme, with its EDF Renewables 海角视频 division having 51% stake.
The project includes the existing 41.5 MW wind farm and the development rights for a new offshore wind farm project which will have a capacity of up to 58.4MW.
EDF Renewables will also continue to provide asset management services to the existing operational wind farm and lead the development of the floating offshore
project, while community benefit fund arrangements are unchanged.
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EDF Renewables 海角视频 CEO Matthieu Hue said: “Blyth is an innovative site which allows us to experiment with new technologies in offshore wind energy and we are very happy to start a partnership with Tenaga Nasional Berhad.
“These kind of partnerships demonstrate the quality of the assets we develop and the appeal of our business for investment partners. They also allow us to invest in new renewables projects such as our recent acquisitions including the Codling offshore wind park development in Ireland, and a number of solar projects to be built next year in the 海角视频.”
The Blyth Offshore Demonstrator started operation with five wind turbines in 2017. Plans to expand the site with world-first float and submerge technology were announced earlier this year.
TNB’s president and CEO, Datuk Ir. Baharin Din said: “The strategic partnership with EDF Renewables marks TNB’s foray into the international offshore wind sector, diversifying beyond the group’s existing onshore wind and solar portfolios in the 海角视频 that have been in operation over the last four years.
“With this alliance, both TNB and EDF Renewables reiterate our shared vision and commitment in driving sustainable development towards a low carbon society.
"We believe this will give us an edge in an increasingly competitive industry, as we look forward to an exciting and fruitful partnership that will open up more opportunities not just in Europe, but also in Southeast Asia.”