TNB boosts RE credentials via stake in UK wind farms

KUALA LUMPUR: Tenaga Nasional Bhd’s (TNB) wholly owned subsidiary, Vantage RE Ltd (Vantage RE), is enhancing TNB’s renewable energy (RE) portfolio and net-zero goals with the acquisition of a 49% stake in the UK’s Blyth Offshore Demonstrator Ltd (BODL), an offshore wind farm company, from EDF Renewables (EDFR), a subsidiary of French utility company Électricité de France (EDF).

In a statement yesterday, TNB said the acquisition, which was sealed on Oct 18, 2021, marks TNB’s maiden entry into the international offshore wind market as BODL currently owns offshore wind assets off Blyth, Northumberland, England.

“The assets include five turbines with a total installed capacity of 41.5 megawatts (MW) (Blyth 1) and further development rights for a floating offshore wind project of up to 58.4MW (Blyth 2) located off Northumberland.

“The five 8.3MW turbines of Blyth 1 are installed with gravity-based foundations, which use a concrete load to keep the turbines securely in place without penetrating the seabed.

“The wind farm has been in operation since 2017 under the Renewable Obligation Certificates (ROC) subsidy regime that is expected to provide stable revenues,” it said, adding that Blyth 2 is an innovative floating offshore wind project currently in the early stage of development.

TNB said the acquisition is one of the planned strategic acquisitions for the national utility company to accelerate its journey in delivering on its environmental, social and governance vision.

“Last year, TNB announced its Sustainability Pathway, a blueprint with an aspiration to achieve net zero emissions by 2050. The Sustainability Pathway is underpinned by a commitment to reduce 35% of TNB’s emissions intensity as well as 50% of coal generation capacity by 2035,” it said.

Vantage RE was launched on July 1, 2021 to own, operate and manage TNB’s portfolio of RE assets in the United Kingdom (UK) and Europe. To date, it has achieved a 530.4MW RE portfolio, including offshore wind, onshore wind and solar farms, in the UK. – Bernama