Greencoat buys minority stake in 1,218 MW Hornsea One offshore wind project
Greencoat UK Wind Plc has agreed to pay GBP400 million (US$489.6 million) for a net 12.5% ownership in the 1.2 GW Hornsea One offshore wind farm in the UK seas.
Greencoat Capital LLP's renewable energy fund will buy the shareholding from Global Infrastructure Partners (GIP), which controls Hornsea One in a 50/50 joint venture with Orsted A/S. The transaction is expected to close in the third quarter of 2022. Greencoat plans to use cash flow reserves and its revolving credit facility to fund the purchase.
The Hornsea One wind complex lies 120 kilometers off the Yorkshire coast. The project is powered by 174 Siemens Gamesa turbines that went live in December 2019, making it the world's largest offshore wind farm. The plant is managed by Orsted, and it has a 13-year inflation-linked Contract-for-Difference (CfD) in effect.
In March, GIP agreed to sell a 7.8% share in Hornsea One to the Renewables Infrastructure Group Ltd. The deal is expected to close by the end of the first half of 2022.
Country updates
-
-
May 18, 2022
Foresight Group buys majority stake in 750 MW MaresConnect interconnector project
Foresight Group Holdings Limited has acquired a majority stake in the 750 MW MaresConnect interconnector project in Ireland and the UK, through its energy transition fund, Foresight Energy Infrastruct...
Read more -
May 18, 2022
Bluefield Solar completes acquisition of 93.2 MW solar and wind portfolio in UK
Bluefield Solar Income Fund Ltd (BSIF) has completed the acquisition of a 93.2 MW solar and wind portfolio in the UK from an undisclosed UK-based fund manager for a total of GBP 112.4 million (US...
Read more -
May 17, 2022
Cory, Northern Lights to pioneer international carbon partnership
Cory and Northern Lights have signed a Memorandum of Understanding (MoU) to collaborate on the realization of a major carbon capture and storage (CCS) project between the UK and Norway. Under the agre...
Read more -
May 16, 2022
Infinergy, Boralex secure approval for 21 MW Limekiln Extension in Scotland
Scottish Ministers have granted approval and consented to the application for the development of the 21 MW extension of the Limekiln wind farm project in the UK. Infinergy now awaits...
Read more -
May 10, 2022
BSR applies for permit for 75 MW solar project in Wales
British Solar Renewables (BSR Energy) has submitted plans for the proposed ground-mounted solar photovoltaic project located in Wales, UK. BSR Energy is looking to develop the 75 MWp Rush Wall...
Read more
