Future investment in new offshore wind leasing rounds
As an energy developer with significant renewables and wind generation expertise, Red Rock Power Limited has a keen interest in forthcoming offshore leasing rounds by both The Crown Estate and Crown Estate Scotland to allow progression of new developments from late 2020s onwards. It is expected that UK Round 4 leasing will launch in Spring 2019 while Crown Estate Scotland will launch the tendering process for its ‘ScotWind’ leasing round from July 2019 onwards.
Red Rock Power (and its partners) acquired rights to develop sites now known as Beatrice, Inch Cape and Moray (fully acquired by EDPR) in Scottish Territorial Waters in UK Round 3 leasing in 2008 and 2009. The company would be considered a ‘new entrant’ as far as English and Welsh territories are concerned.
Whilst taking cognisance of environmental and stakeholder considerations, Red Rock Power expects to identify sites around the British Isles this year that have a good wind resource and deliver commercial return on investment.
In addition to pursuing investment in new leasing rounds, Red Rock Power is eager to further expand its portfolio through acquisitions in the UK and Europe across the renewables sector and wider energy industry.