SOURCE: Industrial Info Resources

November 04, 2009 05:00 ET

U.K. Offshore Windfarms Given £300 Million Boost, an Industrial Info News Alert

GALWAY, IRELAND--(Marketwire - November 4, 2009) - Researched by Industrial Info Resources (Sugar Land, Texas) -- The European Investment Bank (EIB) (Kirchberg, Luxembourg) is considering offering £300 million ($492 million) to fast-track the connection of U.K. offshore windfarms to the country's national grid. The news comes just a month after energy regulator Ofgem revealed a shortlist of 13 companies that will be allowed to bid for nine contracts to build and operate high-voltage transmission links with offshore windfarms. The combined value of these contracts is £1.15 billion ($1.88 billion). The £300 million EIB windfall will be available for six projects, which collectively will connect about 1.6 gigawatts of offshore generation.

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