{"id":68679,"date":"2022-04-12T09:17:42","date_gmt":"2022-04-12T09:17:42","guid":{"rendered":"https:\/\/theelectricityhub.com\/?p=68679"},"modified":"2022-04-12T09:17:42","modified_gmt":"2022-04-12T09:17:42","slug":"companies-sign-deal-for-wind-project-in-scotland","status":"publish","type":"post","link":"https:\/\/theelectricityhub.com\/companies-sign-deal-for-wind-project-in-scotland\/","title":{"rendered":"Companies Sign Deal for Wind Project in Scotland"},"content":{"rendered":"<ul>\n<li>Joint venture to begin the project at the West Orkney Farm.<\/li>\n<li>The project will cost around GBP 4 billion.<\/li>\n<li>GIG is the largest shareholder with 46.75%.<\/li>\n<\/ul>\n<p>A joint venture has been signed by three companies comprising Macquarie&#8217;s Green Investment Group (GIG), TotalEnergies, and RIDG \u2013 Renewable Infrastructure Development Group to develop a 2GW offshore wind farm in Scottish waters.<\/p>\n<p>By 2029, the West of Orkney offshore park will begin producing power. The facility is expected to supply power to the Flotta Hydrogen Hub in Orkney once completed. The project will cost around GBP 4 billion (USD 5.23 billion\/EUR 4.79 billion) and include a GBP 140 million program to help build the local supply chain.<\/p>\n<p>GIG controls 46.75% of the West of Orkney Windfarm joint venture, while TotalEnergies and RIDG each have 38.25% and 15% shares. The lease-option arrangement was signed by GIG through its freshly established offshore wind platform Corio Generation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Joint venture to begin the project at the West Orkney Farm. The project will cost around GBP 4 billion. GIG is the largest shareholder with 46.75%. A joint venture has&hellip; <\/p>\n","protected":false},"author":25,"featured_media":68571,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[496,219,223,1],"tags":[410,3135,262,3136,1262,263],"class_list":["post-68679","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international-news","category-news-2","category-renewable-energy","category-uncategorized","tag-clean-energy","tag-gig","tag-renewable-energy","tag-ridg","tag-totalenergies","tag-wind"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Companies Sign Deal for Wind Project in Scotland &#8226; The Electricity Hub<\/title>\n<meta name=\"description\" content=\"By 2029, the West of Orkney offshore park will begin producing power. 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