Two Japanese companies are buying stakes in German utility innogy’s 860MW offshore wind project in the UK.
J-Power is acquiring a 25% interest and Kansai Electric Power is buying a 16% stake in the £2 billion Triton Knoll Offshore Wind Farm – innogy will retain the rest of the interest.
Financial and equity close is anticipated in the third quarter of 2017, with the commissioning of the wind farm scheduled for 2021.
It will consist of 90 Vestas turbines and when fully operational, generate enough electricity to power around 800,000 homes in the UK.
Hans Bünting, Chief Operating Officer for Renewables at innogy said: “As we continue to grow our offshore portfolio across the globe, the securing of valued, strategic partnerships is a key objective within our strategy.”
Triton Knoll was awarded a contract for difference (CfD) by BEIS in the latest auction round in September last year.