Race Bank Extension is a 573MW offshore wind power project. It is planned in North Sea, England, the UK. The project is currently in announced stage. It will be developed in single phase. Post completion of the construction, the project is expected to get commissioned in 2027.
| Project Type | Total Capacity (MW) | Active Capacity (MW) | Pipeline Capacity (MW) | Project Status | Project Location | Project Developer | Offshore | 573 | – | 573 | Announced | England, the UK | Orsted |
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Description
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The project is being developed by Orsted. Orsted, Green Investment Group and Sumitomo are currently owning the project having ownership stake of 70%, 17.5% and 12.5% respectively.
The project cost is expected to be around $2,854.4m.
Development Status
Post completion of the construction, the project is expected to get commissioned in 2027.
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By GlobalDataAbout Orsted
Orsted AS (Orsted) is a renewable energy company. It develops, constructs, and operates offshore and onshore wind farms, bioenergy plants, solar farms, and energy storage facilities, and provides waste-to-energy solutions and smart energy products. The company produces heat and electricity using coal, natural gas, oil, biomass, wind and solar sources; and sells power and gas in wholesale and retail markets, and optimizes and hedges its energy portfolio. Orsted also owns and operates gas and power contracts, and originates and trades these for optimizing its portfolio; and operates Renescience plants, biogas upgrade facilities and biogas plants. It has operations in the UK, Denmark, Germany, the US, the Netherlands and other. Orsted is headquartered in Fredericia, Denmark.
Methodology
All power projects included in this report are drawn from GlobalData’s Power Intelligence Center. The information regarding the project parameters is sourced through secondary information sources such as electric utilities, equipment manufacturers, developers, project proponent’s – news, deals and financial reporting, regulatory body, associations, government planning reports and publications. Wherever needed the information is further validated through primary from various stakeholders across the power value chain and professionals from leading players within the power sector.
