Located in 19km from the Walney Island coast in the Irish Sea, the Walney Extension offshore wind farm is expected to generate electricity required to power more than 500,000 UK homes.
As part of the deal, PKA and PFA will each acquire 25% ownership interest in the project, which is scheduled to be commissioned in the second half of 2018.
Ørsted CEO Henrik Poulsen said: “We already have a strong partnership with PKA on three other offshore wind farms and we look forward to building an equally long-lasting relationship with PFA on what will be the world’s biggest wind farm when completed.”
Ørsted, however, will continue to construct the wind farm and provide long term operations and maintenance services for the project.
PFA Group CEO Allan Polack said: “With this investment, we take yet another step into the renewable energy market which is actively contributing towards the green transition.”
The deal, which is subject to approval by relevant competition authorities, is planned to be completed by Q4 2017.
PKA CEO Peter Damgaard Jensen said: “This is the sixth offshore wind farm PKA invest in since 2011.
“We focus on this type of investments because we continue to see interesting opportunities in combining good returns to our members and at the same time supporting mitigation of climate changes.”
The offshore wind project will feature 87 wind turbines which include MHI Vestas V164-8.0MW turbines and Siemens SWT-7.0-154 7MW offshore turbines.
Image: The Walney Offshore Windfarm is being built 19km from the Walney Island coast in the Irish Sea. Photo: Courtesy of DONG Energy A/S.
