German energy company innogy has agreed to sell 41% of its stake in the 860MW Triton Knoll Offshore Wind Farm to Japanese companies J-Power and Kansai Electric Power.
As part of the deal, J-Power will acquire 25% stake, through its subsidiary JP Renewable Europe Company (JPREC) and Kansai Electric Power will acquire 16% through its subsidiary KPIC Netherlands.
innogy will retain the remaining 59% stake in the wind farm.
Subject to approval from the supervisory board of innogy, the deal is expected to be closed in the third quarter of this year.
innogy renewables chief operating officer Hans Bünting said: “As we continue to grow our offshore portfolio across the globe, the securing of valued, strategic partnerships is a key objective within our strategy.
“The signed agreement highlights the attractiveness of our offshore development projects. With J-Power and Kansai Electric Power we have found experienced and reliable partners and we are delighted to be working with them to successfully realise the Triton Knoll Offshore Wind Farm together.”
The Triton Knoll offshore wind farm will be powered by 90 MHI Vestas’ V164-9.5 MW turbines and will be located nearly 33km from the seashore, in the North Sea region in the east of England. This wind farm is expected to begin operations by 2021.
Each of the turbines will be 187m high and will have a rotor diameter of 164m. These turbines will be installed on grounded monopile structures, which will reach depths between 12 and 30m into the seafloor.
When completed, the wind farm will generate enough clean electricity to power more than 800,000 homes, while avoiding nearly 12 million tonnes of CO2 and more than 28,000 tonnes of SO2 emissions every year.
In October last year, innogy acquired Norwegian state-owned utility Statkraft’s 50% stake in the Triton Knoll offshore wind project in the UK, for undisclosed amount.