European Investment Bank to fund world’s largest offshore windfarmNews // November 24, 2011
The European Investment Bank has agreed to provide £150 million of long-term funding to Vattenfall for the Thanet offshore windfarm.
With 100 wind turbines and a generating capacity of 300MW this is the largest offshore windfarm operating anywhere in the world.
The windfarm, inaugurated in September 2010, is an important step in enabling the United Kingdom to achieve renewable energy targets and generating 15 per cent of energy needs from renewable sources by 2020.
“The Thanet offshore windfarm demonstrates how offshore wind can achieve economies of scale and make a significant contribution to renewable energy supply. The European Investment Bank is committed to supporting expansion of the offshore sector to increase experience and drive commercialisation of cutting edge technology,” said Simon Brooks, European Investment Bank Vice President for the United Kingdom.