The decision by the management of former oil and gas explorer, Ramco Energy, to switch focus to the offshore wind industry appears to have paid off. Indeed, that new entity, SeaEnergy , has been chosen as part of a consortium to develop one of the concessions in the newest UK round of offshore wind awards.
That's intended to kickstart a £100bn investment to create 25GW of wind power installations around the UK, taking the total installed by 2020 to 32GW, enough to provide a quarter of the UK's electricity needs. Moray Offshore Renewables, 25 per cent-owned by SeaEnergy and 75 per cent-owned by Portuguese utility EDP Renovaveis, was awarded the Zone one stage, where up to 1.3GW of offshore wind farms could be developed in the Moray Firth - although construction isn't expected to begin much before 2014.
When: 27 November 2009
Price: 43p
