OVERSEAS energy giants have underlined their willingness to invest huge sums off Scotland if they are successful in the landmark ScotWind licensing round.

Portuguese-owned EDP Renewables (EDPR) has said it expects to support investment worth more than £12 billion in developing windfarms off Scotland with the right encouragement.

The company noted it has applied with Engie for ScotWind acreage on which it plans to build two windfarms that would involve total capital expenditure of £10bn.

It also raised the prospect that it could invest a further £2.2bn in the Moray West windfarm for which it already has a licence.

Chief executive Miguel Stilwell d’Andrade said the plans underlined the company’s commitment to the UK, which he described as a strategic market.

EDP recently underlined its interest in the UK by clinching a deal to buy onshore windfarms and solar energy projects in a £71m deal. The company said then: “The UK has a low-risk profile and is a sizeable power market.”

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Developers of windfarms can expect to be able to strike long term contracts for the supply of electricity and to benefit from subsidy support under the Contract for Difference programme.

EDPR plans to invest £660m in expanding the onshore business in coming years.

The company developed the Moray East windfarm with Engie.

Describing Moray East as Scotland’s largest wind farm, EDPR noted the project won CFD support. It plans to bid for CFD support For Moray West, which it expects to start constructing in 2022.

EDPR won the licence concerned in 2010.

The firm may face strong competition in the Scotwind auction, which generated strong interest around the world.

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France’s TotalEnergies submitted a bid with Australian investment bank Macquarie and the Scotland-based Renewable Infrastructure Development Group.

The former Total had already shown its belief in the commercial potential of windfarms off Scotland by acquiring a stake in the giant Seagreen development off the Angus Coast from SSE.

TotalEnergies said yesterday that it plans to invest £140 million initiative in a comprehensive action plan to develop the Scottish supply chain and harbour infrastructure if it is awarded acreage in the ScotWind licensing round. The investment would fund early stage development work in connection with a big windfarm TotalEnergies and partners plan to build off Orkney.

Chief executive Patrick Pouyanné yesterday opened TotalEnergies’ new UK Offshore Wind Hub in Aberdeen. The group has a big North Sea oil and gas business.

The company said the hub will enable the transition of staff from oil and gas to offshore wind as that part of its UK business grows.

“With the energy transition gathering speed, we see Scotland as a great place to broaden our relationship by investing in offshore wind. As a global multi energy company long engaged in UK energy supply, our decision to base our UK Offshore Wind Hub here in Aberdeen is a mark of our confidence in the future of renewables in the UK and our continued commitment to Scotland and the North Sea.” said Mr Pouyanné.

ScottishPower entered the ScotWind round with Royal Dutch Shell.

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The Spanish group that owns ScottishPower, Iberdrola, will today confirm it is ready to invest a further £6bn in the East Anglia windfarm hub off England at a Global Investmet Summit hosted by Boris Johnson.