
Moray East offshore wind farm
Offshore wind project delivering 950MW to power nearly one million UK homes, reducing CO2 emissions by 1.7 million tonnes annually.
Date | Investors | Amount | Round |
---|---|---|---|
* | N/A | Secondary | |
Total Funding | 000k |
GBP | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 |
---|---|---|---|---|---|---|---|
Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
% growth | - | - | - | - | - | - | 280 % |
EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
% EBITDA margin | - | - | - | - | - | 87 % | 89 % |
Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
% profit margin | - | - | - | - | - | 47 % | 41 % |
EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article
Moray East is a significant offshore wind project located in Scotland, designed to harness renewable energy and contribute to the UK's power supply. Granted consent for 1,116MW in 2014 by the Scottish Government, the project secured a 950MW contract for difference in 2017 through a competitive auction. This contract established the price per megawatt-hour for the power generated, ensuring economic viability. The wind farm is strategically positioned to capitalize on higher wind speeds offshore, which enhances energy production efficiency and mitigates common concerns associated with wind turbines. Moray East is set to power approximately one million homes, significantly reducing reliance on fossil fuels and cutting CO2 emissions by 1.7 million tonnes annually. The generated electricity is collected offshore via inter-array cables, stepped up in voltage at offshore substations, and then transmitted onshore through export cables. Once onshore, the electricity is further regulated to transmission level at the New Deer substation before being integrated into the National Grid network. This project not only supports the UK's renewable energy goals but also plays a crucial role in reducing the carbon footprint of the energy sector.
Keywords: offshore wind, renewable energy, Scotland, CO2 reduction, power supply, National Grid, wind turbines, energy efficiency, contract for difference, UK homes.