innogy has agreed a Memorandum of Understanding (MoU) with ABP to use its Grimsby facility as the Triton Knoll wind farm’s long term Operations and Maintenance (O&M) base. According to the wind farm developers, studies estimate the O&M work has the potential to support up to 170 direct and indirect long term jobs. innogy, the majority equity shareholder of Triton Knoll (59%), is managing the construction of the project on behalf of partners J-Power (25%) and Kansai Electric Power(16%). innogy SE announced the Financial Close of the Triton Knoll offshore wind farm last Friday (31st August 2018) with all debt required now fully committed by the project lenders. Total planned investment volume amounts to approximately £2bn. The projects developer plan to install 90 of MHI Vestas’ V164-9.5 MW turbines, currently considered to be amongst the most powerful and efficient in the world. innogy will manage the construction as well as operation and maintenance works on behalf of the project partners. MHI Vestas will establish a full-scale turbine pre-assembly operation at Able UK’s Seaton Port in Teesside, from enabling works to loadout. It is anticipated that, in total the port activity involving all partners could create around 100 new and predominately local jobs, and unlock over £16m investment in new infrastructure and equipment. Able UK will develop an additional 140m of new heavy-duty quayside at the port, and invest in equipment and facilities to support delivery of Triton Knoll. It says the investment will help the port become a competitive force within the offshore sector and providing considerable opportunities for the local supply chain. Offshore construction is expected to start in late 2019 and, according to current planning, commissioning is expected to start in 2021. Once fully operational, the 860MW Triton Knoll project is expected to be capable of supplying the equivalent of 800,000 UK households with renewable electricity annually. The planned investment volume amounts to approximately £2bn (approx. €2.24bn at the current exchange rate). The project is located 32km off the coast of Lincolnshire in the east of England. The project was awarded a Contract for Difference (CfD) in the latest UK Government auction (11th September) which saw the cost of offshore wind power drop by nearly 50%. The project secured a CfD with a strike price of £74.75/MWh (approx.€83.45/MWh) for 15 years. For more information on offshore wind financing and construction, click here. You can also view Triton Knoll, and others worldwide, using 4C Offshores interactive map.