Dounreay Tri completes bond issue
31st March 2017
Dounreay Tri Ltd has closed a EUR 45.0 million Sr Sec bond issued in the Nordic bond market. The
bonds have a tenor of 3 years and a fixed coupon of 10.0%. Use of proceeds is to partially fund
construction costs of the company's planned 10MW floating offshore wind installation.
The bond issue follows final project approval from the Scottish government, which was obtained on
17th March. Dounreay Tri will now commence construction of the floating platform at the NIGG
Shipyard in Scotland while the columns for the turbines will be manufactured by the Keppel Shipyard
in Singapore. Nigg will also complete the final assembly and the unit is scheduled to be in operation
in July 2018.
The bond raising marks an important milestone for Dounreay Tri, for the Scottish wind industry, and
for the floating offshore wind industry globally.
The wind farm will be deployed in Scottish Territorial Waters approximately 9km off Dounreay,
Caithness in the summer of 2018. In order to proceed the application to Marine Scotland and
Scottish Ministers must be processed by 31 March as the Renewable Obligation Certificate level
required is only available to projects approved by that date.
The Project consists of:
A two turbine offshore wind farm with a total installed capacity of 10 MW
A single export cable to bring the power to shore
The associated onshore electrical infrastructure
The main offshore components are:
Two offshore wind turbines of 5MW
A floating foundation platform
Mooring lines or chains
One cable, buried, to bring the renewable electricity ashore
Scour protection for anchors and the export cable, where necessary
The onshore infrastructure components are:
A cable landfall, west of the Dounreay nuclear facility
The onshore cable shall be buried to a depth of approximately 1m, subject to ground
A substation or switchgear to transfer power to the grid, at, or near, the existing Dounreay
For more information visit www.hexicon.eu