INPEX Acquires 16.7% Stake In Moray East

By: Chloe Emanuel

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02/03/2023 INPEX Corporation

INPEX Corporation (INPEX) announced today it has acquired a 16.7% stake in the Moray East Offshore Wind Farm, which is currently in operation approximately 22 km off the Moray East coast of Scotland in the United Kingdom.

The acquisition was enabled through an agreement between INPEX Renewable Energy Europe Limited (INPEX Renewable) and Diamond Generating Europe Limited (DGE). DGE is a subsidiary of Mitsubishi Corporation registered in the UK, and the agreement between INPEX Renewable and DGE was to transfer stock in Diamond Generating Europe Investments Limited (DGI) from DGE to INPEX Renewable, which was established in the UK to promote INPEX’s renewable energy business in Europe.

The Moray East offshore wind farm has been in commercial operation since April 2022 with an output scale of 950 MW produced by 100 9.5 MW units.

The wind farm has been able to produce electricity while construction was underway, – 1,415 000 MWh was supplied from June 2021 to March 2022 – enough to meet the total annual electricity needs of all households in Aberdeen and Edinburgh.
The 950 MW Moray East project is the first of two wind farms to be developed in the Outer Moray Firth Zone. The project secured a Contract for Difference of £57.50/MWh from the UK Government in 2017, and started generating power in 2021.

For more information on offshore wind farms worldwide, click here.

About the Author

4C Offshore | Chloe Emanuel
Chloe Emanuel

Press Coordinator

01502 307037