Airtricity in offshore partnership deal
Thursday, 1 April 2004Energy company Airtricity has signed a new deal with EHN, the Spanish company who are the fourth largest wind energy company in the world.
Under the terms of the agreement, EHN have acquired a 50% interest in the development company responsible for Phase one and two of the world's largest permitted offshore wind park on the Arklow Bank.
The deal also gives Airtricity the option to acquire an equivalent interest in EHN's planned offshore project in southern Spain.
Last June, Airtricity and GE Energy signed a co-development agreement for phase one of the Arklow Bank project whereby GE Energy would fund, construct, own and operate the project until testing and demonstration is completed. Then Airtricity would have to option to purchase the facility.
