Japan moves into UK wind farm
Marubeni has agreed to pay owner Dong Energy £200 million to acquire 49.9% in the 172 MW Gunfleet Sands wind farm off the UK coast in Essex, one of the latest projects within Britain's growing wind farm base.
And the deal represents a significant move: “It is especially significant as it is the first investment by a Japanese company into an offshore wind power project,” declared Marubeni chief executive Masumi Kakinoki.
“We believe the offshore wind power sector represents a tremendous growth opportunity not only in Europe but in Japan and the Americas as well,” Kakinoki says.
Subject to securing funds from project finance banks, Marubeni says it expects to complete the deal in the fourth quarter this year.
Also Marubeni and Dong have agreed a long-term purchase deal for electricity produced at Gunfleet Sands, and for the green – renewable obligation (ROC) certificates arising from Marubeni's stake at Gunfleet.
Source: offshore.no