Amazon getting ready to invest in offshore wind in Scotland

According to reports, Amazon is getting ready to declare a significant investment in offshore wind as part of its attempt to run all of its UK operations entirely on renewable energy starting next year.

The Moray West wind farm, located off the northeast coast of Scotland, is the subject of the transaction that Amazon is expected to announce later this month, according to the Mail on Sunday.

According to sources, this will include the retail behemoth obtaining energy from the location via a power purchase agreement.

Currently under development, Moray West is expected to open for business later this year.

Through a joint venture, the French competitor Engie and the Spanish energy major EDPR share ownership of the facility, with Moray West eventually planned for 900 megawatts of capacity.

According to estimates, Amazon will acquire 473 megawatts of this through the agreement, which is equivalent to the electricity required for almost 175,000 houses.

(Sources: investing.com, proactiveinvestors.co.uk)