TNB Forays into UK Offshore Wind, Vantage RE Forms Strategic Partnership with EDF Renewables
Tenaga Nasional Berhad (TNB)’s wholly-owned subsidiary, Vantage RE Ltd. (Vantage RE) has signed a Share Purchase Agreement (SPA) to acquire a 49% stake in an offshore wind farm company, Blyth Offshore Demonstrator Limited (BODL) from EDF Renewables (EDFR), a subsidiary of the French utility company, Électricité de France (EDF).
Vantage RE was launched on 1 July 2021 to own, operate and manage TNB’s portfolio of renewable energy (RE) assets in Europe.
The acquisition marks TNB’s maiden entry into the international offshore wind market as BODL currently owns offshore wind assets off the coast of Blyth, Northumberland, England. The assets include five turbines with a total installed capacity of 41.5MW (“Blyth 1”) and further development rights for a floating offshore wind project of up to 58.4MW (“Blyth 2”) located off the Northumberland coast.
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