Thanet wind farm gets £150million boost

The European Investment Bank (EIB) is to invest £150million in the world's largest offshore wind farm in a bid to help the UK reach its renewables targets.

Inaugurated in September 2010, the Thanet Offshore Wind Farm has more than 100 wind turbines and a generating capacity of 300MW. Its 380ft high turbines are spread over an area of nearly 14 square miles off the Kent coast and can generate enough electricity to power 200,000 homes with clean electricity. "The Thanet Offshore wind farm demonstrates how offshore wind can achieve economies of scale and make a significant contribution to renewable energy supply," said EIB vice president Simon Brooks. "The European Investment Bank is committed to supporting expansion of the offshore sector to increase experience and drive commercialisation of cutting edge technology." The EIB is also expected to fund a transmission link connecting the Thanet wind farm to the national grid. "We are proud to have built the world's largest offshore wind farm, and we are very pleased with the European Investment Bank's long term funding support," concluded Johan Gyllenhoff, group treasurer of Vattenfall, the Swedish company which built the £780m farm.