Greencoat UK Wind has agreed to pay £400 million ($490 million) to Global Infrastructure Partners for a 12.5-percent stake in the 1.2-gigawatt offshore Hornsea One wind farm.
Hornsea One, a 50-50 joint venture owned by Ørsted and Global Infrastructure Partners (GIP), is the world’s biggest offshore wind farm. Located off the East Coast of England, Hornsea One was the first wind farm to offer more than 1 gigawatt of capacity. It now produces enough energy to power more than 1 million U.K. homes.
“As the leading independent U.K. wind farm owner, we are pleased to announce our investment into the world's largest offshore wind farm,” said Shonaid Jemmett-Page, chair of Greencoat UK Wind. “This transaction, once completed, will add another high quality operating asset to our portfolio and increase our net generating capacity to over 1.6 gigawatts. We continue to see an attractive pipeline of projects, both onshore and offshore, and given the size and scale that th