Outer Dowsing

Agreement for Lease of a Windfarm Site upon the Bed of the Sea off the Lincolnshire Coast, East of the Humber Estuary (Project Name: Outer Dowsing)

The modifications to the contract which are the subject of this notice are that for a period up to the expiration of the option in the Agreement for Lease,
(i) developers will pay pro rata monthly, rather than annual, option fee payments with a balancing payment due on completion of the Lease pursuant to the Agreement for Lease. That balancing payment will be equal to the annual Option Fee which would have been payable in respect of the relevant year less the monthly payments actually made in that year; and
(ii) the Agreement for Lease may be terminated without payment of the break payment, and with no Option Fee balancing payment. The Crown Estate considers that these changes are required due to circumstances which it was not possible to foresee at the time of the original award.