Vattenfall to Prioritise Its Investments

Vattenfall to Reduce Stake in EOWDC

As part of its strategy to “prioritise its investments”, Vattenfall is to reduce its stake in European Offshore Wind Deployment Centre (EOWDC), writes BBC.

The £230m EOWDC, which is opposed by Donald Trump, will consist of 11 wind turbines located in Aberdeen Bay.

Peter Wesslau, Vattenfall’s UK country manager, said for BBC: “The EOWDC is a scheme that will benefit the whole offshore wind industry as it will help to drive down the cost of generation and secure industrial benefits for the UK.

“We therefore believe that the EOWDC deserves wider support through the forging of a strategic industrial alliance.

“However, like all energy companies across Europe, there are constraints on our capital budgets and so Vattenfall has had to prioritise its investments which means calling on new investors to help realise the more than £230m investment in the EOWDC.”

Besides Vattenfall, EOWDC is being developed by Aberdeen Renewable Energy Group (AREG) and Technip.

Press Release, May 13, 2013