The UK Renewable Energy Infrastructure Fund (Greencoat) has completed the acquisition of a 12.5% stake in the Hornsea-1 offshore wind farm in the UK.
The deal was first announced on May 16 this year, when Greencoat said it would buy a 12.5% stake in Hornsea-1 offshore wind farm from US infrastructure investment fund Global Infrastructure Partners (GIP) for £400m. .
The Hornsea-1 offshore wind farm is the largest offshore wind farm in the world, located 80 miles off the Yorkshire coast in the North Sea.
The Hornsea-1 offshore wind farm consists of 174 Siemens 7 MW turbines and has a grid export capacity of 1,200 MW, making it the world's first offshore wind farm to exceed 1 GW.
The Hornsea-1 offshore wind farm went into full commercial operation in December 2019 with a high load factor.
