Saturday, June 25 2022 Sign In   |    Register
 

News Quick Search


 

News


Front Page
Power News
Today's News
Yesterday's News
Week of Jun 20
Week of Jun 13
Week of Jun 06
Week of May 30
Week of May 23
By Topic
By News Partner
Gas News
News Customization
Feedback

 

Pro Plus(+)


Add on products to your professional subscription.
  • Energy Archive News
  •  



    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    Greencoat UK Wind buys stake in Hornsea 1 wind farm off UK east coast


    May 16, 2022 - By Tom Budszus; tombudszus@alliancenews.com

     

      (Alliance News) - Greencoat UK Wind PLC on Monday announced it is investing in the Hornsea 1 offshore farm off the east cost of England.

      It is buying a net stake of 13% in Hornsea 1 from Global Infrastructure Partners, Greencoat UK Wind said. The acquisition worth GBP400 million is expected to complete in the third quarter of 2022.

      Hornsea 1 is the world's largest offshore wind farm, the London-based renewable energy infrastructure investor explained. "Orsted will continue to provide operation, maintenance and management services to the wind farm," Greencoat added.

      The wind farm is currently 50% owned by Orsted AS and 50% owned by GIP, Greencoat said. GIP's stake is part-funded by GBP2.9 billion of limited recourse debt, Greencoat explained. Greencoat's pro rata share of this debt is GBP700 million, giving its 13% stake a total enterprise value of GBP1.1 billion.

      The wind farm 80 miles off the Yorkshire coast has a grid export capacity of 1,200 megawatts and is in full operation since December 2019. It benefits from a price of GBP175.25 per megawatt hour, Greencoat UK Wind said.

      Greencoat UK Wind shares were 0.2% lower at 154.75 pence each in London on Monday morning.

    TOP

    Other Articles - International


    TOP

       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2022 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.