SSE JV and Fluor reach agreement over construction of windfarms
FTSE 100-listed utilities group SSE and Fluor have reached agreement on all of the outstanding claims relating to the construction of the Greater Gabbard offshore wind farm.
FTSE 100-listed utilities group SSE and Fluor have reached agreement on all of the outstanding claims relating to the construction of the Greater Gabbard offshore wind farm.
The main claim related to the quality of up to 52 upper foundations supporting turbines and the quality of up to 35 lower foundations supporting the same turbines at the Greater Gabbard Offshore Winds (GGOWL) site, a 50:50 joint venture between SSE and RWE nPower.
All 140 turbines at the Greater Gabbard offshore wind farm have been energised and operational since September 2012, SSE said.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
In the six months to March 2013, the wind farm was operationally available to generate electricity for 87% of the time and the group said that this would be forecast to increase to over 90% during 2013/14.
"GGOWL is now confident about the long-term structural integrity of the disputed foundations," a statement from SSE reported.
Iwan Tukalo, General Manager at GGOWL, said: "The agreement between GGOWL and Fluor is a positive development, bringing to an end the contractual dispute between the two parties.
"It is also encouraging that the wind farm has performed well since it was energised and our focus remains on ensuring it is a safe, efficient asset that makes a significant contribution to achieving the UK's targets for renewable energy."
MF
-
Private school fees soar and VAT threat looms – what does it mean for you?
Rising private school fees could see more than one in five parents pull their children out of their current school. Before you remortgage, move house or look to grandparents for help, here’s what you need to know.
By Katie Williams Published
-
Best and worst UK banks for online banking revealed
When it comes to keeping your money safe, not all banks are equal. We reveal the best and worst banks for online banking when it comes to protecting your money from scams
By Oojal Dhanjal Published