One of the partners in the giant London Array windfarm has sold off half its stake in the project to a Canadian pension fund.
Danish power firm Dong Energy confirmed the deal to sell a 25% stake in the 630MW offshore windfarm to La Caisse for £644million.
The £2.2billion, 175-turbine array – located in the outer Thames Estuary – came online last spring and will generate enough power for around 500,000 homes.
“We are delighted to have entered into an agreement with such a credible financial investor as La Caisse,” said Dong Energy’s vice president for wind Samel Leupold.
“Farm down of our ownership shares in wind projects is a central part of our business model and our strategy is to continuously enter into partnership agreements with industrial and financial partners to extract part of the value creation from our projects, share the risk in our portfolio and attract capital to be able to continue to invest in new offshore wind farms.”
The deal, subject to regulatory approval, will see the Canadian investors join E.On and Emirati clean energy firm Masdar in the project.
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