Dounreay Tri Limited in Administration
25 July 2017
Dounreay Tri Floating Wind Demonstration Project
The Joint Administrators of the Company are offering for sale (subject to contract) the Company’s interest in the Project.
The Project is a consented multi-turbine offshore wind floating platform, comprising a semi-submersible rig with 2x 5MW turbines, intended to be deployed off the Caithness coast.
The Project benefits from the following consents and other agreements:-
1. Development Consent under S.36 of the Electricity Act 1989 dated 16 March 2017. Permitted generating capacity not to exceed 12MW. Duration of consent 25 years from commissioning. Consent also contains marine licence for construction works, extinction of public rights of navigation and deemed grant of planning permission for the ancillary onshore development;
2. ROC Preliminary Accreditation from Ofgem dated 7 April 2017. The Project will be entitled to 3.5 ROCs/MWh provided that commissioning is achieved on or prior to 30 September 2018;
3. Option Agreement between the Company and The Crown Estate Commissioners dated 6 & 20 March 2017. The Option runs for five years from 20 March 2017. On exercise of the Option the Company is entitled to a 25 year lease of the seabed, including cable rights to the foreshore;
4. 10MW Embedded Generation Connection Agreement between the Company and SHEPD dated 23 August and 17 November 2016, as amended; and
5. Supporting contractual documentation.
Documentation pertaining to the Project is available from the Project Data Room. Interested parties should contact Brian Milne at the email address email@example.com. Completion of a Non-Disclosure Agreement is a condition of access to the Project Data Room.
Brian Milne and Linda Barr were appointed as Joint Administrators of the Company on 5 July 2017. The Joint Administrators manage the affairs, business and property of the Company as agents and without personal liability.
As this is an administration sale, no warranties, indemnities or guarantees will be provided and the conditions attached to any offer should therefore reflect this.
The administrators offer for sale only whatever right, title and interest as the Company has in and to the assets. The information contained in this memorandum is for information only and is not warranted, and offerors should rely on their own due diligence.