Hecate Independent Power (HIP), an Anglo-American joint venture company, has announced plans to build a £21bn ($30bn) offshore wind project in the North Atlantic to power the UK.
HIP has announced the launch of its HIP Atlantic Project for installing 10,000 MW of fixed and floating wind turbines in the North Atlantic connected to the UK by long-length, high-capacity, high-voltage direct current (HVDC) submarine power transmission cables.
The cables are set to be manufactured in the UK at a new £200m bespoke power cable plant to be built at a port in the North East, with the exact location to be revealed at a later date.
HIP has lodged four connection applications with the National Grid Company for an initial 4,000 MW of grid connections to the UK’s 400 kV electricity transmission system across four connection sites.
Each wind farm – or pod - will be in a different North Atlantic location, and each pod consisting of 1,000 MW of wind turbines will have its own dedicated cable linked to the UK.
HIP Atlantic’s initial 2,000 MW of generation capacity, targeted to be off the southern and eastern coasts of Iceland, is expected to be commissioned in early 2025.
HIP Atlantic is aiming to maximise the amount of British-made products in every element of its equipment manufacturing and installation process. The initial 2,000 MW capacity alone is expected to result in some 15,000 new jobs in the UK.
HIP chairman Sir Tony Baldry said:
"HIP Atlantic fulfils the Prime Minister’s vision of attracting investment and job creation in the North of England as part of this country’s ambitious policy to make Britain the world leader in offshore wind energy.
"We will stretch the zone of British-operated wind generation outside of our traditional territorial waters, pushing the boundaries of existing cable technology to generate over 1,000 kms from our grid landfall points throughout England."
HIP is comprised of Hecate Wind, a wholly owned subsidiary of North American renewable energy developer Hecate Holdings, and Independent Power Corporation, a British developer of conventional power plants internationally.