Greencoat UK Wind has completed its acquisition from Global Infrastructure Partners, of a 12.5% stake in the 1.2GW Hornsea 1 offshore wind farm.
The infrastructure investor first announced its intention to buy the stake in the Hornsea 1 project – which is off the north-east coast of England - in May.
The firm said at the time that it would pay a total cash consideration of approximately £400 million (€470 million) for the stake.
Hornsea 1 was commissioned in December 2019 and consists of 174 of Siemens Gamesa’s SWT-7.0-154 turbines.
Its current ownership is split between: Ørsted (50%) Global Infrastructure Partners (GIP) (14.8%) Greencoat Capital (12.5%), Octopus Energy (12.5%), and The Renewables Infrastructure Group (TRIG) (10.2%).
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