Press Release: Investment Plan for Europe: GBP 525m European backing for Beatrice windfarm off Scottish coast in the UK

As part of the Investment Plan for Europe, the European Commission backed on 24 May 2016 GBP 525 million for Beatrice windfarm off Scottish coast.

This project is the single largest investment in an offshore wind farm by the European Investment Bank (EIB). The investment was supported by new European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe.

The 86 turbine Beatrice windfarm generated up to 588MW of renewable electricity equivalent to the energy needs of more than 475 thousand homes and was expected to be fully operational in 2019. The new wind farm cost more than GBP 2.7bn and was built by Beatrice Offshore Windfarm Limited, a partnership formed between SSE, SDIC Power and Copenhagen Infrastructure Partners. Construction and operation of the Beatrice windfarm supported job creation, skills training opportunities and opportunities for local businesses in both the Moray and Highland regions of Scotland.

• Primary Source

ESO: Background information: Press Release: Investment Plan for Europe: More than 100 billion euro of investments less than one year into Fund http://www.europeansources.info/record/press-release-investment-plan-for-europe-more-than-100-billion-euro-of-investments-less-than-one-year-into-fund/

ESO: Background Information: Investment Plan for Europe http://www.europeansources.info/record/investment-plan-for-europe-2/

---