Swedish giant makes offer for Eclipse

Swedish power giant Vattenfall has made a cash offer for Eclipse Energy, the developers of a 150MW offshore gas-hybrid windfarm set for construction in the Irish Sea.

Swedish power giant Vattenfall has made a cash offer for Eclipse Energy, the developers of a 150MW offshore gas-hybrid windfarm set for construction in the Irish Sea.

The state-owned company has offered £51.5 million for a 58.5 per cent stake in Eclipse Energy.

Vattenfall chief executive Lars G Josefsson said: "Vattenfall's view is that the UK is a suitable target market for its future renewables growth for a variety of reasons including a well-functioning support system, a deregulated and competitive market for electricity and an openness to foreign investment."

Scotland in particular has begun to make itself known as the leading country for renewable energy, as it invests in both wind and wave power across the country as well as in the North and Irish Seas.

It is believed the deal between Vattenfall and Eclipse is being unanimously supported by the Eclipse directors, although it needs to be signed off by around 70 shareholders, New Energy Focus report stated.