Today, Fred.Olsen Renewables (FOR) announced that following a strategic review of its portfolio of onshore and offshore wind farm sites its main focus would be on onshore wind farm development.
Nick Emery, Managing Director of the company’s UK operations said:
“Fred.Olsen Renewables has undertaken a thorough and complete review of all of our potential wind farm developments. As an independent power producer we have concluded that the most efficient use of our development resource is in our onshore portfolios, where historically we have had considerable success. Crystal Rig Wind Farms I and II, for example, provide almost 10% of Scotland’s operational wind capacity.”
As part of the review Fred.Olsen Renewables will continue to progress the offshore 220 turbine Codling Wind Park in Irish Waters which received consent from the Irish Government in 2005. However, the company will end its development activity at the Forth Array offshore project in Scottish Territorial Waters. This project was awarded an Exclusivity Agreement by The Crown Estate in 2009.
Nick Emery continued:
“FOR sees a clear future for offshore wind and believe it will make an important contribution to the recently announced Scottish Governments’ renewable targets as part of the UK commitment to 2020. Our decision to step back from the Forth Array project is a consequence of our intention to concentrate our investment in those projects we feel we can best deliver in the short to medium term. Plans will now include additional investment in our Scottish onshore development portfolio.”
Within the wider group of Fred.Olsen related companies which includes Windcarrier, Harland and Wolff, Natural Power and SeaRoc, there will be continued investment and growth into the services sector of the offshore market.
Media Relations, Fred.Olsen related companies Email : email@example.com
Tel : +44 (0) 1531 650 757
Notes for Editors:
Fred.Olsen Renewables (FOR) has been developing and operating wind farms since the mid 1990’s showing real commitment to the Scottish and UK renewable energy generation market. Its operational portfolio comprises Rothes (51MW), Pauls Hill (64MW) and Crystal Rig (200MW) giving a generating capacity of 315MW. Consented onshore projects are Mid Hill (75MW), Windy Standard II (37.5MW) and Rothes II (40MW) with a large offshore project in Irish waters, Codling Bank (up to 1GW). FOR is a wholly owned subsidiary of Bonheur ASA and Ganger Rolf ASA, both listed on the Oslo Stock Exchange, with FOR being responsible for the development of renewable energy generation activities. See www.fredolsen-renewables.com for more information.