EDF Renewables has sold a 49 per cent stake in its Blyth offshore wind farm to Malaysian utility, Tenaga Nasional Berhad (TNB). The farm is located in north east England. Under the agreement, TNB shall own the minority stake in Blyth Offshore Demonstrator Limited (BODL) through its wholly-owned subsidiary, Vantage RE.
EDF Renewables UK shall continue to be the majority stakeholder in BODL with a 51 per cent share. This comprises of an existing 41.5 MW wind farm along with the development rights for a new Blyth floating project with an expected capacity of 58.4 MW. Furthermore, asset management services will be continued to be provided by EDF Renewables, which will also lead the development of the floating offshore project. The community benefit fund arrangements will remain unchanged.
The strategic partnership marks TNB’s foray into the international offshore wind sector. At present, the group has existing ventures in the onshore wind and solar portfolios in the UK that have been operational since the last three to four years. The agreement with TNB is also line with EDF Group’s CAP 2030 strategy which aims to achieve 60 GW of net renewable capacity worldwide by 2030.