Northland Power has signed definitive agreements for ESB to acquire an interest of just under 25% in its ScotWind portfolio (Spiorad na Mara and Havbredey).
Under the agreement, Northland will retain a 75.5% stake in each project and continue to lead the development, construction, and operation of the projects.
The partnership with ESB provides Northland with an opportunity to bring in an experienced long-term partner to help build on the development progress already made, the Canadian developer said.
All commitments made by the projects prior to the agreement will remain in place, it added.
Northland Power project director for ScotWind Tanya Davies said: “This is yet another exciting milestone for Northland, Spiorad na Mara and Havbredey.
“With ESB, we have found a highly experienced and valued partner to help advance the development of the projects, and we look forward to working closely together to realise both projects over the months and years ahead.
“Our objective is to deliver projects which the Outer Hebrides can be proud of, with substantial benefits for the environment, and the local, regional, and national economies.”
Spiorad na Mara is a proposed fixed-bottom offshore wind turbine project, located approximately 5 km off the west coast of Lewis at its closest point.
With a potential capacity of around 840MW, it could meet the average annual electricity needs for around 760,000 Scottish homes with renewable electricity and save around 1.2 million tonnes of harmful CO2 emissions every year.
Havbredey is a proposed floating wind turbine project, located approximately 35 km offshore to the north-west of Lewis.
With a potential capacity of around 1500MW, it could meet the average annual electricity needs for around 1.3 million Scottish homes with renewable electricity and save around 2.2 million tonnes of harmful CO2 emissions every year.