PRESS RELEASE ,December 18th 2006

 

Thanet Offshore Wind Limited (TOW), a subsidiary of Warwick Energy Limited, has received consents to allow it to construct and operate an offshore wind farm off the coast of East Kent. Consents covering the offshore works and the limited onshore works have been provided from both the DTI and from Defra.

TOW held a series of public exhibitions in the Thanet area in June 2005 which indicated overwhelming local support for the project. Analysis of the detailed Environmental Statement (ES), that accompanied the consent request, has concluded that the development would have a minimal impact on the local environment.

The Thanet team have responded to the urgent need to increase renewable energy production by fast-tracking this project for a 2008 timetable. On the current schedule this project will be the largest offshore wind farm in the World at that time and will help the UK take the lead internationally for wind capacity installed offshore.

‘Receiving consents is a major milestone for any project and we are relieved to have finally reached this point for Thanet’ commented Mark Petterson, Project Director. ‘The team is working hard to enable the Thanet project to become a reality in the very near future.’

It is expected that the Thanet project will be the first Round 2 offshore wind farm to be built in the UK. It has already reached an advanced stage on the technical front and all necessary consents are now in place for the project to proceed.

Tender documents were issued for all the major contracts earlier in 2006. Vestas has been selected as the preferred turbine supplier using their 3 MW V90 unit, SLP has been earmarked to provide the turbine foundations and a Siemens/Prysmian consortium will supply the cables and electrical components.

The total cost for the 300 MW project is now expected to be up to £500m. Thanet will create a number of temporary jobs during the construction phase and over 25 full time jobs thereafter. It is hoped that many of the jobs will be filled locally when the construction contracts are finally let in the coming months.

 

NOTES TO EDITORS:

1. In January 2004, Warwick Energy announced plans to develop an offshore wind farm more than 11 km to the North East of the Thanet coast in East Kent. The company received exclusive rights to the site under an agreement with The Crown Estate. The project will include 100 wind turbine generators producing on average enough electricity to supply 240,000 homes with green electricity.

2. During 2004 and 2005 TOW conducted a large number of surveys and studies on the site, consistent with the Scoping Report submitted in July 2004. The results of these studies formed the basis for the Environmental Statement (ES) that accompanied the application for consents.

3. During this early period Deutsche Bank was brought into the project as a strategic partner and remains a key shareholder and supporter of the project.

4. The public exhibitions, conducted in June 2005, were attended by 731 people of whom 400 (55%) returned a questionnaire, either at the exhibitions or afterwards by post. This provided the feedback as summarised below. Of the responses received, 43% were strongly supportive of the proposed scheme, 30% supportive, 20% undecided, 2% against and 5% strongly against. Analysis of the reasons given for being against the project reveals that most were based on the potential navigational risks, visual impact of the wind turbines from the shore or the potential impact on the local bird population. The ES demonstrated that any impact in these areas, as a consequence of the development, would be negligible.

5. It is expected that electricity generation from offshore wind farms, such as this one at Thanet, will make a significant contribution towards the UK’s target of producing 15% of its energy needs from renewable sources by 2015. The project will avoid CO2 emissions of between 0.6 and 1 million tonnes per year, depending on whether the electricity produced displaces gas or coal fired generation.

6. Warwick Energy’s wind farm project at Thanet is one of 15 projects announced by the Crown Estate in January 2004 as a second round of UK offshore wind projects. Other ‘Round 2’ projects being proposed in the Thames area by other companies are the London Array and Greater Gabbard developments. The Kentish Flats wind farm off Herne Bay/Whitstable, commissioned in 2005, was part of the first Round of demonstrator wind farm projects launched by the Crown Estate in early 2001.

7. Deutsche Bank and Bank of Tokyo Mitsubishi UFJ have been appointed as Mandated Lead Arrangers for the senior debt financing at Financial Close. Deutsche Bank will be arranging the equity financing.

 

Contact: Mark Petterson Director, Warwick Energy Ltd 01789 471091

Warwick Energy Limited, Wellesbourne House, Wellesbourne, Warwick, CV35 9JB