BACKGROUND

The global wind industry is thought to be growing currently at a compound annual growth rate of between 10 and 15 percent. Launched in June 2008, SeaEnergy Renewables comprises a development team with decades of offshore oil and gas and renewable energy development experience. SeaEnergy is perfectly placed to capitalise on the opportunity for offshore wind farm development rapidly emerging on a global scale.

The SeaEnergy team’s most recent accomplishment included the construction of the Beatrice Wind Farm Demonstrator Project, for owners Scottish and Southern Energy and Talisman Energy. This Project is the world's first deepwater wind farm, which involved the installation of the two largest wind turbines ever deployed in offshore waters (5MW each). For further information on this pioneering project, please review the Beatrice Wind Farm page.

Strategy

SeaEnergy’s strategy is to identify large-scale offshore wind farm development opportunities and build consortia to own and operate these installations. To review the Company’s vision, missions and goals, please click here.

SeaEnergy provides unrivalled technical, project management, and financial expertise, as well as the ability to build and manage the development consortia. The Company’s objective is to ensure the successful delivery of these projects employing the most relevant multi-contracting and risk mitigation strategies gained through years of successful, large-scale offshore project developments and operations in the marine renewables and oil and gas industries.

SeaEnergy has identified and is in active discussions involving a number of potential offshore development opportunities in the UK, EU, North America, and the Far East. Whilst the initial focus will be in the UK and EU region, SeaEnergy expects to remain at the forefront of the offshore wind industry globally.

EU Mandate

In 2008, EU mandated renewable energy supply targets were established for all member states. These aggressive, elevated targets mean that a significant percentage of total electricity supply must, of necessity, come from renewable sources by the target dates. According to the Financial Times this quantity of new supply required in the UK, for example, is thought to represent approximately 33GW of new capacity and approximately £80 billion in project development costs. This new renewable energy supply will almost certainly have to come from offshore wind farm developments – similar in size but larger in scale than the Beatrice Demonstrator Wind Farm. The SeaEnergy team is poised to be at the vanguard of such developments.

SeaEnergy Development Partnerships

Scottish Territorial Waters

In February 2009, SeaEnergy Renewables was successful in winning exclusivity agreements with The Crown Estate of the United Kingdom, for two offshore wind farms In Scottish territorial waters. The Beatrice Offshore Wind Farm has a capacity of 920MW and will be developed with Airtricity, a division of Scottish and Southern Energy. The Inch Cape Offshore Wind Farm has a capacity of 905MW and is being developed in partnership with RWE npower Renewables, a subsidiary of RWE AG.

The successful bids mean that SeaEnergy, together with our partners, has the right to undertake further studies into the feasibility of these offshore wind farms, which are located off the East Coast of Scotland in the Moray Firth, and off the Caithness Coastline. 

With net equity of 456MW for SeaEnergy Renewables, these are a significant achievement for the Company in reaching its milestone of 1GW within 5 years.

UK Round 3

In March 2009, SeaEnergy Renewables announced a partnership with EDP Renewables SA (EDPR), to submit bids in The Crown Estate third offshore wind farm leasing round in the UK (UK Round 3).

EDPR is the world's fourth largest wind energy company, having undergone exceptional growth in recent years. EDPR had over 5,000 MW of total wind energy generation in operation at the end of 2008. The EDP Group (EDPR's parent company) is Portugal's largest industrial group and one of Europe's main energy companies.

The UK Round 3 programme was launched in June 2008, with a target of achieving 25GW from offshore wind farms by 2020. The programme outlined 9 zones for which the bidder could submit an application. In the first phase, interested bidders prepared and submitted a plan for the development of capacity at one or more of the outlined zones. In a second phase preferred bidders where invited to negotiate final conditions prior to zones being awarded, expected by year-end 2009.

On 8th January 2010 SeaEnergy and EDPR were awarded Zone 1 and formed Moray Offshore Renewables Limited to develop wind farm sites within the zone.   The capacity of Zone 1 is anticipated to be 1,300 MW.

 

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