British investment company Greencoat UK Wind (UKW) has concluded the acquisition of a 12.5% stake in the 1.2GW Hornsea One offshore wind farm.

UKW agreed to acquire the stake in the offshore wind facility from Global Infrastructure Partners (GIP) for a cash consideration of £400m ($490m) in May this year.

At the time of the announcement, Greencoat UK Wind chairman Shonaid Jemmett-Page said: “As the leading independent UK wind farm owner, we are pleased to announce our investment into the world’s largest offshore wind farm.

“This transaction, once completed, will add another high-quality operating asset to our portfolio and increase our net generating capacity to over 1.6GW.

“We continue to see an attractive pipeline of projects, both onshore and offshore, and given the size and scale that the Company has attained over recent years, we remain strongly positioned to deliver more value-accretive acquisitions and extend our track record of strong shareholder returns.”

Located 128km off the Yorkshire coast in the North Sea, Hornsea One is equally owned by Ørsted and GIP.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Claimed to be one of the largest offshore wind farms in the world, Hornsea I is equipped with 174 Siemens wind turbines, the offshore facility has been operational since December 2019.

It has the capacity to power more than one million homes.

Earlier this month, Octopus Energy Generation and GLIL Infrastructure acquired a 12.5% stake in the Hornsea One in a deal valued at £400m.