Moray West Offshore Wind Farm Faces Default and Outage Issues While Supplying Power to Amazon
The Moray West offshore wind farm in Scotland, developed by Engie and EDP Renewables, has defaulted on lending agreements and is experiencing an outage that halved its power output. The project, which has not yet declared commercial operations under its power purchase agreement with an unnamed offtaker, reported significant delays and financial challenges, including increased borrowing from £1.4bn to £2.56bn by the end of 2024.
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The Moray West offshore wind farm in Scotland, owned by Ocean Winds, has defaulted on lending agreements and is currently facing an outage that has reduced its power output by half. The 882MW project, which includes 60 Siemens Gamesa turbines, has not yet commenced commercial operations under a power purchase agreement (PPA) and missed a contractual milestone of September 30.
The project reported financial difficulties, with borrowing increasing from £1.4bn to £2.56bn by the end of 2024. Since November 7, the project has been unable to deliver full power due to a substation outage. Moray West has reached a short-term waiver with lenders and is discussing further extensions.
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