OilVoice - Ramco Energy Forms Consortium for UK Round 3 Wind Farm Bids

Ramco Energy Forms Consortium for UK Round 3 Wind Farm Bids

Tuesday, March 17, 2009

Ramco Energy plc, the Aberdeen based energy investment company, provides an update on SeaEnergy Renewables Limited (“SeaEnergy”), its 80% owned subsidiary.

Highlights:
- Formation of consortium for UK Round 3 with EDP Renewables SA (“EDPR”)
- EDPR are the world’s fourth largest wind energy company
- UK Round 3 Offshore Wind farm bids submitted
- Appointment of Dan Finch as Executive Director of SeaEnergy

EDPR, the world’s fourth largest wind energy company, and SeaEnergy, the Scottish based marine renewables development company, announced this week, at the European Wind Energy Conference and Exhibition in Marseille, the formation of a consortium, which has submitted bids to The Crown Estate in the third offshore wind farm leasing round in the UK (“UK Round 3”).

EDPR is part of the EDP Group, Portugal’s largest industrial group and one of Europe’s main energy companies. EDPR’s installed capacity increased four-fold between 2005 and 2007, placing the Company among the top three in the world in terms of industry growth.

SeaEnergy was formed by Ramco in June 2008, around the Beatrice Wind Farm Demonstrator Project team, which developed the world’s first deep water offshore wind farm, and brings together decades of experience and expertise in both the offshore oil and gas and utility sectors. Most recently, SeaEnergy was awarded Exclusivity Agreements by The Crown Estate covering two offshore wind farm sites in Scottish territorial waters. The first site is Beatrice Offshore Wind Farm which is 9 miles off the east coast of Scotland in the Moray Firth. The site is expected to have an installed capacity of circa 920 MW. Scottish and Southern Energy plc (“SSE”), subsidiary, Airtricity Holdings (UK) Limited has a 75% in the project with SeaEnergy having the remaining 25% interest. The second site is the Inch Cape Offshore Wind Farm. This is located 10 miles off the east coast of Scotland in the Outer Tay Estuary. This site is expected to have an installed capacity of approximately 905 MW. The partners in this site are RWE npower renewables Limited with 75% and SeaEnergy with 25%. SeaEnergy’s combined interest in both projects equates to circa 456.25 MW, nearly half the Company’s five year target of 1GW.

SeaEnergy has also announced the appointment of Dan Finch to the SeaEnergy board as Development Director, Dan played a pivotal role in SeaEnergy’s successful bid submissions in the Scottish wind farm leasing round and has led SeaEnergy’s bid team in the UK Round 3 programme.

Dan (46) had a long career with SSE before joining SeaEnergy on its foundation last year. Most recently, Mr. Finch held positions as Manager of on-shore Wind Farm construction projects and subsequently as Offshore Wind Construction Manager at SSE. Previously he had been both a Maintenance Engineer and Operations Manager in SSE’s Hydro Generation Groups. Earlier in his career Mr. Finch worked for Scottish Hydro Electric and for the Ministry of Defence. In 2005 SSE seconded Mr. Finch to the Beatrice Wind Farm Demonstrator Project to act in the capacity of Offshore Wind Development Manager. On the Beatrice Wind Farm project team Mr. Finch was responsible for all power generation aspects including the 5MW turbines and all electrical power distribution infrastructure. In addition to his extensive technical background in power generation Mr. Finch holds an MBA degree from Strathclyde Graduate Business School.

This appointment takes place with immediate effect.

Steve Remp, Chairman of Ramco, said:
“I believe the combination of EDPR’s financial strength and global wind industryexperience with SeaEnergy’s proven track record installing turbines in deep water, provides the consortium with the credentials necessary for success in the UK Round 3 programme. I am also pleased to have Dan Finch join the SeaEnergy board. Hshard work and experience have been critica to the success SeaEnergyhas achieved to-date.”

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