Japanese utilities J-Power and Kansai Electric Power have agreed a deal with German developer Innogy to take separate shareholdings in the 860MW Triton Knoll wind farm off east England.
J-Power will take a 25% stake in the Contracts for Difference-backed project off Lincolnshire while Kansai is to acquire 16%.
The former wants to leverage knowledge gained during construction of the wind farm, which will start next year, for an offshore project it is planning off Kitakyushu City in Japan.
“Taking advantage of this benefit, J-Power will accelerate its commitment to promoting its renewable energy business across the world, including Japan,” said the company.
Triton Knoll, which will feature 90 MHI Vestas 9.5MW turbines, is due online in 2021.
Innogy will retain a 59% share in the project.
The transaction is subject to the approval of the supervisory board of Innogy and financial close, which is expected in the third quarter of 2018, said the German company.
“As we continue to grow our offshore portfolio across the globe, the securing of valued, strategic partnerships is a key objective within our strategy,” said Hans Bunting, Innogy chief operating officer Renewables.
“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.”
Image: MHI Vestas
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