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Galloper looks to secure financial close

By: Lewis Holdsworth 04/06/2015 Galloper Wind Farm

General Windfarms

RWE Innogy UK is continuing to make significant progress with a revised business case and design for the Galloper Offshore Wind Farm. The Project is now moving into the detailed design work phase, involving its supply chain partners and potential equity finance partners.

The next key milestone for the project will be to secure Financial Close. In order to achieve this, RWE Innogy has recently conducted a market sounding exercise with potential lenders and intends to launch the project financing process in the coming months.

The objective is to secure Financial Close during the second half of 2015, which will then enable onshore construction to begin before the end of the year.

Galloper Wind farm is an extension of the existing and fully operational Greater Gabbard Wind Farm. Following community consultation, in-depth site investigations and a thorough examination by the Planning Inspectorate, Galloper Wind Farm was awarded Development Consent in May 2013.

Key project statistics

- Located ~27KM off the Suffolk Coast

- 504 MW consented and 336 MW nominal capacity of current project

- Up to 56 wind turbines

- Up to 6MW turbines

- Offshore & onshore substations

- Potential to generate clean home grown energy for 1000s of UK homes and create 100s of jobs

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Galloper looks to secure financial close

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