Innogy Scores in British Offshore Auction with Mega-Project

Essen, Germany - Innogy has reached a milestone on the way to the realisation of the British offshore wind farm Sofia. In the course of the latest round of auctions in Great Britain, a total of 6 offshore wind energy projects with a total capacity of around 5,500 megawatts (MW) were awarded a contract.

With a total capacity of 1,400 MW, the Innogy offshore wind farm Sofia is the largest project. Innogy now wants to move the project forward rapidly in order to start onshore construction work in 2021. Full commissioning is scheduled for the end of 2026. Once in operation, the total amount of power Sofia could generate would be enough to provide almost 1.2 million average UK homes with their annual electricity needs. The planned investment volume is in the region of £3 billion.

According to Innogy, the consented wind farm, located 195 km off the UK coast on Dogger Bank in the North Sea, has proven wind conditions and relatively shallow water depths of 21 to 36 metres. The final investment decision for Sofia is expected to be made during 2020 when the contracting agreements with prospective supply chain partners will be completed. The external financing process will then be finalised.

Sofia Offshore Wind Farm is 100% owned by Innogy SE. Innogy will review all options regarding the ownership and financing structure of the project in order to maximise value for the company and shareholders.

Source: IWR Online, Sep 09 2019