Fred. Olsen Renewables – 1GW grid connection

December112012

Fred. Olsen Renewables Ltd. has confirmed that it has signed a grid connection offer of 1GW for Codling Wind Park, with co-owners Hazel Shore Ltd [satisfying the typical power requirements of more than 160,000 homes*]. The Irish Waters project, which is situated in shallow waters, currently consented for 220 turbines with a further 200 turbines in the consenting process. Following an intergovernmental agreement expected in 2013, this project could deliver up to 1GW of installed capacity by 2020 to the UK energy market, contributing to the Governments EU 2020 targets. Nick Emery, CEO of Fred. Olsen Renewables commented: “We are pleased to progress Codling Wind Park having consented the site in 2005. By securing grid connection we hope that, with a clear route to market, we can take the site in to operation within the next 5 years delivering an additional 1GW to the UK’s offshore renewable energy market.”

*renewableUK source: Number of households supplied = B x 0.3 x 8760/4700 where B is the rated capacity of the wind energy development in kW, 0.3 is a constant, the capacity factor, which takes into account the intermittent nature of the wind, the availability of the wind turbines and array losses, and 8760 is the number of hours in a year.

Notes for Editors:
Fred. Olsen Renewables (FOR) has been developing and operating wind farms since the mid 1990’s. Its operational portfolio comprises Rothes (51MW), Pauls Hill (64MW) and Crystal Rig I (62.5MW) and Crystal Rig II (138MW) giving a generating capacity of 315.5MW. Projects under construction include Rothes II (41.4MW) and Mid Hill (75MW). Consented onshore projects include Windy Standard II (37.5MW) and 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.

Hazel Shore Ltd is an Irish based investment firm whose pricinple investors have a long history in investing in renewable energy projects.

Codling Wind Park is a joint venture between Fred. Olsen Renewables and Hazel Shore since 2000. Located 13km from Greystones and Wicklow up to 18m water depth the area covers 55 square km. 220 turbines have been consented. The site is fully permitted with all necessary consents to construct. A second phase has been submitted for planning for a further 200 turbines immediately south of Codling Wind Park Phase 1. For more information email press@fredolsen.co.uk.http://fredolsenrenewables.co.uk/for-project-sites/codling-bank/

Contact details:
Alex Woodward
Head of Marketing
Fred. Olsen Ltd.
Email: press@fredolsen.co.uk
Tel: +44 (0) 7825 159 082

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