£525 million in EU financing to new windfarm in Scotland, UK

This transaction benefits from the support of the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe. The 86 turbine Beatrice windfarm will generate up to 588MW of renewable electricity equivalent to the energy needs of more than 475 thousand homes and is expected to be fully operational in 2019.

Maroš Šefcovic, European Commission Vice-President responsible for Energy Union, said: "Thanks to the Investment Plan and the European Investment Bank, we are getting closer to reaching our COP21 goals. Already the European Fund for Strategic Investments has helped to finance sustainable, green investments across the EU worth billions of euros. Indeed more than half of the EFSI projects approved so far are in renewable energy, energy efficiency and green investment. There's a business case; it's time to invest!