SeaEnergy Signs IDA for Inch Cape Offshore Wind Farm

SeaEnergy PLC announces that its 80% subsidiary SeaEnergy Renewables Limited (SERL) has signed an Interim Development Agreement (IDA) with The Crown Estate regarding certain Inch Cape wind farm development activities.

The IDA formalises the Heads of Terms agreement announced in September 2010, stating that The Crown Estate will directly invest up to £1.4 million in key surveys and reports for the Inch Cape project, which will be directly contracted and managed by SERL.

The Crown Estate views the Inch Cape wind power project as being important to the delivery of the Scottish Territorial Waters leasing round and to the UK in maintaining the delivery of the Offshore Wind Energy Programme.