DONG Energy has signed a deal to sell 50% of its stake in the 450MW Borkum Riffgrund 2 offshore windfarm in Germany to Global Infrastructure Partners III (GIP III) for around €1.17bn.

As part of the deal, DONG Energy will also form a 50/50 partnership with GIP to develop the project and offer engineering, procurement, construction, operations, and maintenance services.

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Subject to approval, the deal is set to be completed by the end of this year.

GIP is also a 50% partner in DONG Energy’s Gode Wind 1 offshore windfarm, which features 330MW capacity and became operational in June this year.

"[The windfarm] will be able to produce enough electricity to power more than 460,000 German households annually."

DONG Energy windpower executive vice-president and CEO Samuel Leupold said: “We’re pleased to be able to build on the partnership we established with GIP in relation to Gode Wind 1 in 2015.

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“That partnership has been a success for all parties, and we’re committed to ensuring a similar success in relation to BorkumRiffgrund 2.”

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Currently under construction in the German North Sea, Borkum Riffgrund 2 is expected to be fully commissioned by 2019.

The farm will be equipped with 56 MHI Vestas V164-8.0MW wind turbines and will be able to produce enough electricity to power more than 460,000 German households annually.

Image: Offshore substation jacket for Borkum Riffgrund 2 leaving the Schiedam harbour in the Netherlands. Photo: courtesy of DONG Energy A/S.