Global asset management business Aviva Investors has agreed to provide a £400m investment for the construction of the Hornsea 1 offshore windfarm in the UK.

Infrastructure debt and structured finance teams of the asset management firm have invested £400m in fixed-rate and inflation-linked bonds.

In September this year, Global Infrastructure Partners agreed to acquire 50% of Hornsea 1 from Orsted Wind Power.

Aviva Investors Infrastructure Debt head Darryl Murphy said: “We are delighted to have participated in the Hornsea 1 financing, which is a transformational deal for the European renewables market. We continue to have a strong appetite for future investments within this sector, seeking opportunities that meet our clients’ investment requirements.”

Hornsea 1 is located in the North Sea nearly 101km off the North East coast of the UK and will have an installed capacity of 1,218MW.

Planned to be fully commissioned by 2020, the offshore windfarm project is likely to create more than 2,300 employment opportunities and increase supply chain development.

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“The offshore windfarm project is likely to create more than 2,300 employment opportunities and increase supply chain development.”

Once operational, Hornsea 1 will generate enough electricity to supply over one million UK homes.

Orsted Partnerships and Structured Solutions head Kunal Patel said: “The Hornsea 1 windfarm is a landmark transaction for the market and demonstrates the continued trust of blue-chip institutions to invest in our projects.”

In November last year, Aviva Investors invested £165m in Walney Extension offshore windfarm.