Friday 27 December 2013

Japan to buy stake in UK offshore wind project

Japan to buy stake in UK offshore wind project

Japan’s state-owned Development Bank of Japan (DBJ) is set to buy a stake in a 172MW offshore wind project (pictured) in England.

The Bank said it has entered into an agreement with Marubeni Corporation to buy half – or 24.95% - of its stake of the Gunfleet Sands wind farms 1 and 2. Marubeni had initially bought the holding for £200 million in 2011.

DONG Energy will retain its majority ownership and continue to operate the project, which is located around seven kilometres south-east of Clacton-on-Sea, Essex.

DJB said in a statement: “By partnering up with Marubeni and DONG Energy, who is the market leader in offshore wind, DBJ will be able to support domestic and international renewable energy projects.”

Written by

Bruna Pinhoni

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