Malaysian utility Tenaga Nasional Berhad (TNB) has purchased a 49% stake in the Blyth Offshore Demonstrator wind farm from EDF via its subsidiary Vantage RE.
EDF Renewables will retain a 51% majority share in Blyth, which includes the existing 41.5 MW wind farm off the coast of Northumberland and the development rights for the new Blyth floating offshore project which will have a capacity of up to 58.4MW.
EDF will continue to provide asset management services to the existing operational wind farm and will also continue to lead the development of the floating offshore project.
Matthieu Hue, the UK chief executive of EDF Renewables, said: “Blyth is an innovative site which allows us to experiment with new technologies in offshore wind energy and we are very happy to start a partnership with Tenaga Nasional Berhad.
“These kind of partnerships demonstrate the quality of the assets we develop and the appeal of our business for investment partners. They also allow us to invest in new renewables projects such as our recent acquisitions including the Codling offshore wind park development in Ireland, and a number of solar projects to be built next year in the UK.”
Datuk Ir. Baharin Din, president and chief executive of TNB, said: “The strategic partnership with EDF Renewables marks TNB’s foray into the international offshore wind sector, diversifying beyond the group’s existing onshore wind and solar portfolios in the UK that have been in operation over the last four years.
“With this alliance, both TNB and EDF Renewables reiterate our shared vision and commitment in driving sustainable development towards a low carbon society. We believe this will give us an edge in an increasingly competitive industry, as we look forward to an exciting and fruitful partnership that will open up more opportunities not just in Europe, but also in Southeast Asia.”