Inch Cape Offshore Wind Farm, a joint venture between ESB and Red Rock Renewables, has reached financial close, securing over £3.5 billion in funding for the 1.08GW project.

Located 15 kilometres off the Angus coast, Inch Cape will feature 72 Vestas 15.0 MW turbines, making it one of the largest offshore wind farms in the UK.

The project has secured 15-year contracts through the UK Government's Contract for Difference (CfD) auctions and is expected to generate almost 5 terawatt hours (TWh) of clean energy per year.

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“Reaching this major milestone of financial close is a significant achievement,” said Paul Lennon, Head of Offshore Wind, Hydrogen and Long-Term Storage at ESB. “Inch Cape will make a significant contribution to the UK's climate goals, while creating local jobs.”

Xiaomeng Chen, Red Rock Renewables CEO, added: "This success is a testament to the efficient design and cutting-edge technologies employed by the project."

Construction of the onshore substation and early landfall works are already underway in Cockenzie, East Lothian. Offshore construction is scheduled to begin in Q2 2025, with first power expected in late-2026 and full commercial operation in 2027.

Inch Cape will play a crucial role in supporting the UK's transition to a low-carbon future while also providing significant economic benefits to Scotland.