Wigton Windfarm Limited (“Wigton” or the “Company”) has advised that the Cabinet considered and approved the grant of a twenty (20) year generation licence, commencing April 2023, by the Minister with responsibility for Energy, to enable the continuation of the generating capacity of the Company through Phase I of its operations.
Wigton Phase I, which represents 20.7MW of the Company’s generating capacity, was commissioned in 2004 for a total contractual and licence period of twenty (20) years and will expire in 2024. Wigton accordingly, requested of the Minister with responsibility for Energy the grant of a further generation licence under the Electricity Act, 2015 to continue operations beyond 2024.
While the approval of Cabinet represents a critical step in the continuation of the operations of Wigton Phase I, Wigton must now negotiate with other key stakeholders, to include its suppliers, financiers, its sole customer and the regulator, in order to determine the final cost of equipment, overall project financial viability, applicable tariff, agreed to terms and conditions of sale of the capacity generated and ultimately, a decision as to whether to commission a renewed Wigton Phase I.
Wigton will continue to provide updates as matters progress.
