Galloper Offshore Wind Farm is located in the North Sea, 27 kilometers off the coast of Suffolk, UK. The wind farm comprises of 56 wind turbines manufactured by the Siemens Group, and supported by monopile foundations.
Sumitomo Corporation has signed a contract to invest alongside Macquarie Capital in Galloper Offshore Wind Farm. Sumitomo will indirectly take a 12.5% stake in the project with the transaction due to complete in the coming months.
The offshore project site is located in the North Sea, 27 kilometers off the coast of Suffolk, UK. The wind farm has a water depth of 27 to 36 meters and has been under construction since financial close.
The equity sponsors achieved financial close of Galloper in October 2015, and include RWE Innogy UK, Siemens Financial Services, UK Green Investment Bank plc, and Macquarie Capital. The total cost of the Galloper project is about GBP1,500 million.
The wind farm comprises of 56 wind turbines manufactured by the Siemens Group, and supported by monopile foundations. Monopiles consist of a foundation pile and a transition piece, which is normally a highly efficient type of foundation and, at present, it is the most popular option in European offshore wind farms.
The total production capacity of the project is up to 336 MW with the electricity generated to be sold through long-term purchase power agreements with off-takers across the UK. The electricity generated will cater to the needs of approximately 336,000 households. The equivalent homes supplied is based on an annual electricity consumption per home of 4500 kWh. This figure is supported by recent domestic electricity consumption data available from The Digest of UK Energy Statistics and household figures from the UK Statistics Authority.
Commercial production of Galloper is scheduled to commence in 2018 and is expected to provide clean energy for 25 years.
Sumitomo has globally developed its wind-power business, which includes investments in three off-shore wind farms, Belwind (165 MW), Northwind (216 MW), and Nobelwind (165MW), all in Belgium in September 2014. As one of the key business areas, Sumitomo is actively seeking offshore wind business opportunities in the UK, which now has the biggest offshore wind market in the world.
By leveraging on this experience, know-how and partnership with Macquarie Capital, as well as relationships with other stakeholders, Sumitomo aims to continue development of offshore wind farms in Europe and contribute to global sustainability.
Filed Under: News, Offshore wind, Projects
