By Giulia Petroni

Engie SA and EDP Renovaveis SA's joint venture, Ocean Winds, said Thursday that it has been awarded a Contract for Difference from the U.K. government for an offshore wind farm project.

The company won a 15-year CfD for the delivery of 294 megawatts of offshore wind generation at its Moray West offshore wind farm, which is expected to have first power in 2024.

The CfD brings the project closer to a final investment decision and financial closing, Ocean Winds said.

Write to Giulia Petroni at giulia.petroni@wsj.com

(END) Dow Jones Newswires

July 07, 2022 11:11 ET (15:11 GMT)

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