6 Jan 2010 08:03
6 January 2010
SeaEnergy PLC
("SeaEnergy" or the "Company")
Statement by EDP Renováveis S.A.
As announced on March 16th 2009 the Company's 80% owned subsidiary SeaEnergy Renewables Limited ("SERL") together with its partner EDP Renováveis S.A. ("EDPR") has bid for Zones in UK Round 3 Wind Farm Leasing Round coordinated by The Crown Estate.
EDPR have today, following a request from the Portuguese securities market commission, released the following statement.
1. EDPR and SERL have incorporated in 2009 a joint-venture designated Moray Offshore Renewables Limited ("MORL"), in which EDPR holds a 75% shareholding and SERL a 25% interest, with the purpose of participating in the third offshore wind farm leasing round in the UK ("UK Round 3"), which terms and conditions involved a confidentiality undertaking by each participant in relation to the whole process
2. The Crown Estate has recently notified its intention of selecting MORL as one of the Zone Partners of the UK Round 3, although the effective outcome of such UK Round 3 is expected to be announced only during the following days of January 2010.
3. Given the information received from The Crown Estate, EDPR expects MORL to be awarded and to enter into a zone development agreement for Zone 1, which is located in the northeast of Scotland with a target capacity of Approximately 1.3 GW.
4. The selected partners will be awarded an exclusive right to proceed first with the study and development of offshore wind farm projects in a specific zone for the purpose of obtaining the relevant key consents.
5. If the relevant key consents are obtained MORL will be authorised to begin construction and operation of the relevant offshore wind farm projects, which, should MORL be selected now as a Zone Partner, is expected to take place between 2015 and 2020.
SeaEnergy will make a further announcement once there has been any additional information or disclosure by The Crown Estate regarding the UK Round 3 outcome.
For further information contact:
| SeaEnergy PLC Steven Bertram - Managing Director | +44 1224 748 480 |
| Ambrian Partners Limited - NOMAD & Broker Andrew Craig, Richard Swindells | +44 20 7634 4700 |
| Kreab Gavin Anderson Ken Cronin, Kate Hill, Charlotte Reeve | +44 20 7074 1800 |
www.seaenergy-plc.com
NOTES TO EDITORS
SeaEnergy PLC is the only listed pure play offshore wind energy company in the UK. SeaEnergy Renewables Limited ("SERL") is a subsidiary of the Company and is made up of the team which conceived, developed and delivered the world's first deep water wind farm development - the Beatrice offshore wind farm (10MW) (the "Beatrice Project") which is owned and operated by Talisman Energy. The Beatrice Project involved the installation of the two largest wind turbines (5MW each) ever deployed offshore, at water depths of 45 metres. This, combined with the SERL team's expertise in delivering deep water offshore developments in the oil and gas industry, puts SeaEnergy in an unrivalled position at the vanguard of the emerging offshore renewables industry.
SERL has secured a 25% interest in two unrelated joint ventures to develop offshore wind farms in the UK with a total capacity of over 1,800MW with partners Scottish & Southern Energy (Airtricity) and RWE AG (npower). SERL has also signed a Heads of Terms Agreement to develop offshore wind farms in Taiwan with Taiwan Generations Corporation, the first project of which provides a minimum capacity net to SERL of 150MW giving a total worldwide capacity net to SERL of over 600 MW.