The Smart Wind consortium, led by Siemens Project Ventures and
Mainstream Renewable Power, has won a major contract from the Crown
Estate to develop one of the nine €111 billion wind farm zones off
of the UK coast.

Siemens Project Ventures, the project finance division of
Siemens Financial Services, will work with renewable energy firm
Mainstream Renewable Power to develop 4GW of wind farms by 2020 in
the ‘Hornsea’ zone, off of the Yorkshire coast.

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A special purpose vehicle, Smart Wind Limited, was set up by the
two companies, in which both hold a 50 percent stake.

The manufacturing arm of Siemens is expected to supply wind
turbines and offshore substations, with the first project expected
to be ready for construction by 2014.

“The bidding consortium is an ideal combination of the
development experience as well as financial capacities of both
partners,” said Wolfgang Bischoff, chief executive of Siemens
Project Ventures.

Jason T Hesse

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