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Neart na Gaoithe reaches finacial close

The Neart na Gaoithe offshore wind farm is now commencing construction activities following confirmation from owners that financial close for the project has been achieved. Twenty-five (25) financial institutions are lending money to fund the wind farm which will supply enough low carbon electricity for around 375,000 homes.

Project developers EDF Renewables has also confirmed that Irish energy company ESB is taking a 50% stake in the project. The 450 MW  wind farm is expected to be operational by 2023 and the total investment required to deliver the project is estimated to be in the region of £1.8 billion. Construction of components is now underway, offshore construction will start in June 2020 and full commissioning will complete in 2023.

EDF Renewables UK CEO Matthieu Hue said, “These are hugely important milestones for the project, and a great credit to the EDF Renewables team. We are excited to get work under way with our new equity partner ESB, our contractors, and all Scottish companies and stakeholders participating in the project. The 450 MW NnG project will play an important role in de-carbonising the UK electricity system and is a further example of EDF Renewables continuous investment and growth in Scotland.”


Pat O’Doherty, Chief Executive of ESB, says that the significant acquisition represents another key milestone in the company’s investment in offshore wind. “Our 50 percent stake in Neart na Gaoithe fits entirely with ESB’s Brighter Future strategy to build a balanced low carbon generation portfolio of scale. Offshore wind is one of the main technologies underpinning the clean electricity systems that will power our societies into the future. This investment in the Neart na Gaoithe project builds on significant ESB involvement in offshore wind off the Irish coast as ESB develops its experience to assist Ireland deliver its Climate Action Plan. We look forward to pooling our expertise with EDF Renewables in delivering this major project.”


All of the project’s 54 turbines will be assembled at the Port of Dundee before being sailed to the site and the Scottish engineering firm BiFab will build a number of the foundation jackets.


Project servicing and maintenance will take place at the Scottish NnG Operations and Maintenance base where there will be 50 permanent jobs over the 25-year lifetime of the wind farm. The preferred supplier at this stage is Eyemouth Harbour.

When fully operational,
Neart na Gaoithe is expected to generate electricity for around 375,000 homes, or all of the domestic properties in a city the size of Edinburgh, and displace 400,000 tons of CO2 annually.

For more information on offshore wind farm developments,
click here. Alternatively, click here to view 4C Offshores interactive map.

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