Norway’s Sovereign Wealth Fund Acquires Stake In 573 MW Race Bank Offshore Wind Farm
The title of this post, is the same as that of this article on offshoreWIND.biz.
This is the sub-heading.
A consortium made up of investment funds belonging to Australia-headquartered Macquarie Asset Management and Spring Infrastructure Capital has reached an agreement to divest a 37.5 per cent stake in the 573 MW Race Bank offshore wind farm in the UK to Norges Bank Investment Management.
These four paragraphs give more details of the deal.
The stake was sold to the Norwegian sovereign wealth fund for approximately GBP 330 million (about EUR 390.6 million).
According to Norges Bank Investment Management, the fund acquired Macquarie European Infrastructure Fund 5’s 25 per cent stake and Spring Infrastructure 1 Investment Limited Partnership’s 12.5 per cent interest in the Race Bank offshore wind farm.
A Macquarie Capital and Macquarie European Infrastructure Fund 5 consortium acquired a 50 per cent stake in Race Bank during the construction phase in 2016. Macquarie Capital divested its 25 per cent stake in the wind farm in 2017.
With the deal, Arjun Infrastructure Partners will remain co-investor for 12.5 per cent of the wind farm and Ørsted will remain a 50 per cent owner and operator of Race Bank.
These are my thoughts.
The Location of Race Bank Wind Farm
This map from the Outer Dowsing Web Site, shows Race Bank and all the other wind farms off the South Yorkshire, Lincolnshire and Norfolk coasts.
From North to South, wind farm sizes and owners are as follows.
- Hornsea 1 – 1218 MW – Ørsted, Global Infrastructure Partners
- Hornsea 2 – 1386 MW – Ørsted,Global Infrastructure Partners
- Hornsea 3 – 2852 MW – Ørsted
- Hornsea 4 – 2600 MW – Ørsted
- Westernmost Rough – 210 MW – Ørsted and Partners
- Humber Gateway – 219 MW – E.ON
- Triton Knoll – 857 MW – RWE
- Outer Dowsing – 1500 MW – Corio Generation, TotalEnergies
- Race Bank – 573 MW – Ørsted,
- Dudgeon – 402 MW – Equinor, Statkraft
- Lincs – 270 MW – Centrica, Siemens, Ørsted
- Lynn and Inner Dowsing – 194 MW – Centrica, TCW
- Sheringham Shoal – 317 MW – Equinor, Statkraft
- Norfolk Vanguard West – 1380 MW – RWE
Note.
- There is certainly a large amount of wind power on the map.
- Hornsea 1, 2 and 3 supply Humberside.
- Hornsea 4 will supply Norwich and North Norfolk.
- Norfolk Vanguard West would probably act with the other two wind farms in RWE’ Norfolk cluster.
- Ignoring Hornsea and Norfolk Vanguard West gives a total around 4.5 GW.
- There are also two 2 GW interconnectors to Scotland (Eastern Green Link 3 and Eastern Green Link 4) and the 1.4 GW Viking Link to Denmark.
I wouldn’t be surprised to see a large offshore electrolyser being built in the East Lincolnshire/West Norfolk area.
The primary purpose would be to mop up any spare wind electricity to avoid curtailing the wind turbines.
The hydrogen would have these uses.
- Provide hydrogen for small, backup and peaker power stations.
- Provide hydrogen for local industry, transport and agriculture,
- Provide hydrogen for off-gas-grid heating.
- Provide methanol for coastal shipping.
Any spare hydrogen would be exported by coastal tanker to Germany to feed H2ercules.
Do We Need Wind-Driven Hydrogen Electrolysers About Every Fifty Miles Or so Along The Coast?
I can certainly see a string along the East Coast between Humberside and Kent.
- Humberside – Being planned by SSE
- East Lincolnshire/West Norfolk – See above
- North-East Norfolk – See RWE Goes For An Additional 10 GW Of Offshore Wind In UK Waters In 2030.
- Dogger Bank – See RWE Goes For An Additional 10 GW Of Offshore Wind In UK Waters In 2030.
- Sizewell – See Sizewell C And Hydrogen.
- Herne Bay – Under construction
I can see others at possibly Freeport East and London Gateway.
Reform UK leader Richard Tice To Stand In Boston And Skegness
The title of this post, is the same as that of this article on the BBC,
This is the sub-heading.
The leader of Reform UK has announced he is to stand as a candidate in Boston and Skegness at the general election.
Anr this is the first paragraph.
Richard Tice announced his intention to stand in the Lincolnshire constituency on social media on Thursday morning.
This article on The Times is entitled What are Reform UK’s Policies — And How Is The Party Polling?
The article has these two paragraphs on energy, decarbonisation and net-zero.
Energy and net zero is another major area of focus. Tice has referred to net zero as “net stupid” and wants to accelerate the granting of oil and gas licences in the North Sea.
Reform has said all existing carbon emissions targets should be abandoned, due to what it says is an unfair burden being placed on taxpayers and consumers.
I shall do some arithmetic to give a few pointers to the constituency he hopes to win.
The Boston and Skegness constituency is a large green energy hub, where in a few years electricity from various source will be collected for distribution to East Anglia and the South of England.
Currently, in operation, under construction or in planning, are the following sources of green electricity.
- Viking Link is a 1.4 GW interconnector between Bicker Fen in Lincolnshire and Denmark.
- EGL3 is a 2 GW interconnector between Lincolnshire and Peterhead in Scotland.
- EGL4 is a 2 GW interconnector between Lincolnshire and Westfield in Scotland.
- Lincs is a 270 MW wind farm.
- Lynn and Inner Dowsing is a 194 MW wind farm.
- Outer Dowsing is a 1500 MW wind farm.
- Triton Knoll is a 857 MW wind farm.
- Race Bank is a 573 MW wind farm.
Note.
- The three interconnectors can send electricity in both directions.
- The wind farms are in North-South order.
- There would appear to be space in the sea for more wind farms.
- The 950 MW Spalding gas-fired power station is available locally, when the wind is on strike.
- The owners of Spalding power station are rumoured to be putting a large battery alongside the power station.
The totals are as follows.
- 1.4 GW – Interconnector to Denmark
- 4 GW – Interconnector to Scotland
- 3.4 GW – Wind farms
- 1 GW – Gas-fired power station.
These total up to 9.8 GW of power.
Conclusion
Consider.
- It would appear that Richard Tice of Reform UK, has decided to stand in a constancy with one of the highest levels of green energy and energy security in the UK.
- It is also likely to be a constituency, which in the future will benefit from investment and employment, as more wind farms are developed in the North Sea.
It looks to me, that he’s a politician with very little mathematical ability.
The Anonymous Widower 