KPMG Corporate Finance has announced that it has advised E.ON on partnering activities for the Rampion offshore wind project. Canadian energy company Enbridge has joined the Rampion offshore wind project by acquiring a 24.9 percent interest, becoming one of three shareholders in Rampion Offshore Wind Limited. E.ON will remain the controlling shareholder at 50.1 percent, with the UK Green Investment Bank plc (GIB) continuing to hold a 25 percent interest.
Adrian Scholtz, Head of Renewables at KPMG and lead advisor on the deal, commented: "The deal symbolizes the growing global appetite for offshore wind, with a significant strategic new entrant partnering with a 'best in class' operator. These partnerships are critical to the industry continuing to reduce cost and improve renewable energy dependency, as it transitions to a long term, low cost, low carbon energy economy".
Rampion is a 400 megawatt offshore wind farm project in the English Channel, to be located 13-kilometers off the Sussex coast south of Brighton and remains set to become the first offshore wind farm off the south coast of England. The development is expected to supply the equivalent of up to 300,000 homes and to reduce CO2 emissions by up to 600,000 tonnes a year. E.ON will manage construction and operation of the Rampion Offshore Wind Farm. The project received the final investment decision in May 2015, started construction in September and is expected to be fully operational in 2018.
- ENDS -
Notes to editors
For press enquiries contact
Ann Burton, KPMG press office
T: +44 (0) 20 7311 6497
KPMG Press Office: +44 (0)020 7694 8773
Follow us on Twitter: @kpmguk
KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff. The UK firm recorded a turnover of £1.9 billion in the year ended September 2014. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 162,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.
KPMG has launched a state of the art digital platform that enhances your experience and provides improved access to our content and our people, whatever device you are on.