sailorman
Well-Known Member
[h=1]Galloper offshore wind farm developer pulls out of scheme[/h]
The Galloper wind farm was to have been next to the Great Gabbard wind farm and was expected to be finished by 2017
Continue reading the main story[h=2]Related Stories[/h]
An energy firm has pulled out of a wind farm scheme that promised hundreds of jobs in Suffolk.
Top five energy company RWE has stopped work on the Galloper wind farm because of difficulties in raising finance in time to meet government rules.
Up to 85 turbines were to have been built 18 miles (30km) off the coast, bringing power to 330,000 homes.
RWE said after a partner pulled out it could not meet finance deadlines to win government approval for a contract.
Galloper's partner Scottish and Southern Electricity (SSE) pulled out in March.
The project was backed by the Green Investment Bank and RWE reported "positive investor interest and supplier support".
'Postponement not cancellation'
Preparations had been made for operations at the port of Lowestestoft where supply vessels would be based
Hundreds of skilled workers were to have been based at ABP Port of Lowestoft and preparations had been made for electricity to come ashore at Sizewell.
RWE said: "We are disappointed to announce the decision not to continue with Galloper due to the tight timescales to secure financing whilst achieving accreditation under the Renewable Obligation.
"This results in an unacceptable balance of risk and reward."
ABP Port of Lowestoft declined to comment on the loss of job opportunities.
Lowestoft Conservative MP Peter Aldous said he was disappointed but regarded the decision as a postponement and hoped another energy firm would take over the scheme.
"Galloper has got planning permissions, is in shallow water with no environmental or geological concerns and is the best place for an offshore wind farm.
"When SSE pulled out it became a race against time for RWE to get the finance and supply chain organisation together to secure a contract from the Department of Energy and Climate Change."
The Department of Energy and Climate Change and Waveney District Council are expected to comment later.
Continue reading the main story[h=2]Related Stories[/h]
An energy firm has pulled out of a wind farm scheme that promised hundreds of jobs in Suffolk.
Top five energy company RWE has stopped work on the Galloper wind farm because of difficulties in raising finance in time to meet government rules.
Up to 85 turbines were to have been built 18 miles (30km) off the coast, bringing power to 330,000 homes.
RWE said after a partner pulled out it could not meet finance deadlines to win government approval for a contract.
Galloper's partner Scottish and Southern Electricity (SSE) pulled out in March.
The project was backed by the Green Investment Bank and RWE reported "positive investor interest and supplier support".
'Postponement not cancellation'
Hundreds of skilled workers were to have been based at ABP Port of Lowestoft and preparations had been made for electricity to come ashore at Sizewell.
RWE said: "We are disappointed to announce the decision not to continue with Galloper due to the tight timescales to secure financing whilst achieving accreditation under the Renewable Obligation.
"This results in an unacceptable balance of risk and reward."
ABP Port of Lowestoft declined to comment on the loss of job opportunities.
Lowestoft Conservative MP Peter Aldous said he was disappointed but regarded the decision as a postponement and hoped another energy firm would take over the scheme.
"Galloper has got planning permissions, is in shallow water with no environmental or geological concerns and is the best place for an offshore wind farm.
"When SSE pulled out it became a race against time for RWE to get the finance and supply chain organisation together to secure a contract from the Department of Energy and Climate Change."
The Department of Energy and Climate Change and Waveney District Council are expected to comment later.