SDIC Power of China has formally completed its €238m acquisition of Repsol’s UK offshore wind business.
The Beijing-controlled company has closed the deal on the back of this week’s positive final investment decision on the 588MW Beatrice offshore wind farm off the coast of Scotland.
SDIC took Repsol’s 25% stake in the project as part of the deal that was first announced in February.
The acquisition includes full control of the consented 784MW Inch Cape wind farm off the east coast of Scotland.
The Edinburgh-based Inch Cape development team will remain on the project under SDIC management, it is understood.
Board secretary Yang Lin said earlier this week that the company was “delighted” to collaborate on the financial close of the Beatrice project.
“Beatrice is SDIC Power’s first exposure to the European offshore wind market, and we fully believe it has a promising future. We will continue to work closely with our partners and we expect Beatrice to contribute more to the region’s economy,” he said.
Image: Beatrice demo (Senvion and Jan Oelker)
