ESB and Red Rock Renewables form joint venture for Inch Cape Offshore Wind Farm

By Global Infrastructure Sherpa · Feb 24, 2026

Partnership Wind announced UK Feb 24, 2026

GBP4.7B

Deal Value

construction

Stage

Inch Cape Offshore Wind Farm

Project

ESB and Red Rock Renewables have formed a 50/50 joint venture to develop the Inch Cape Offshore Wind Farm. The project will invest ?4.7 billion in the UK economy over its lifetime, with ?2.7 billion to be spent in Scotland.

Deal Analysis

ESB, an Irish state-owned electricity utility, and Red Rock Renewables have formed a 50/50 joint venture to develop the Inch Cape Offshore Wind Farm in the UK. This partnership represents a significant investment in the UK's renewable energy infrastructure, with an anticipated ?4.7 billion investment over the project's lifetime, including ?2.7 billion specifically allocated to Scotland. The collaboration leverages ESB's experience across the electricity value chain and Red Rock Renewables' expertise in renewable energy development, aiming to advance the Inch Cape project towards completion and operation. While the specific capacity and project stage remain undisclosed, the scale of the planned investment suggests a substantial offshore wind farm development. This deal underscores the ongoing commitment to renewable energy development in the UK and the increasing role of partnerships in delivering large-scale infrastructure projects. The involvement of a state-owned utility like ESB further highlights the strategic importance of offshore wind in meeting national energy targets and promoting energy security.

Joint venture between ESB, a state-owned utility, and Red Rock Renewables.
Significant ?4.7 billion investment in the UK economy.
?2.7 billion earmarked for investment in Scotland.
Focus on offshore wind, a key technology for decarbonization.

Market Context: The UK offshore wind market is a mature and rapidly growing sector, attracting significant investment from both domestic and international players. Government support and ambitious renewable energy targets are driving the development of large-scale offshore wind projects.

Source Intelligence

KEY DETAILS

The project will invest ?2.7 billion in Scotland. "The project will invest ?4.7 billion in the UK economy over its lifetime, with ?2.7 billion to be spent in Scotland." The project will invest ?1.0 billion in eastern Scotland. "The report by BiGGAR Economics added that ?1.0 billion will be invested in eastern Scotland, including East Lothian and Angus, supporting local and regional economies." The project will support 2600 full-time equivalent UK jobs at its construction peak. "At its construction peak the project will support 2600 full-time equivalent UK jobs, while 50 direct long-term skilled roles will be created for operations at the Port of Montrose." 50 direct long-term skilled roles will be created for operations at the Port of Montrose. "At its construction peak the project will support 2600 full-time equivalent UK jobs, while 50 direct long-term skilled roles will be created for operations at the Port of Montrose."

“

Deal Size

The project will invest ?4.7 billion in the UK economy over its lifetime, with ?2.7 billion to be spent in Scotland.

“

Location

Inch Cape Offshore Wind Farm has published an independent report setting out the investment, value and employment the project will deliver to Scotland and the wider UK.

“

Announcement

24 February 2026

“

COD

Inch Cape is on track for first power in late 2026 and full commercial operation in 2027

PARTIES MENTIONED IN SOURCE

ESB developer

"The 50/50 joint venture between ESB and Red Rock Renewables said the project will invest ?4.7 billion in the UK economy over its lifetime, with ?2.7 billion to be spent in Scotland."

Red Rock Renewables developer

"The 50/50 joint venture between ESB and Red Rock Renewables said the project will invest ?4.7 billion in the UK economy over its lifetime, with ?2.7 billion to be spent in Scotland."

Siemens Energy supplier