Vattenfall has signed a partnership deal with AMF under which the Swedish pension group take a 49% share in the 150MW Ormonde offshore wind farm.
The £237m agreement for the 30-turbine project in the Irish Sea off the coast of Barrow-in-Furness in northwest England aims to “support wind growth and the shift to renewables”.
The Swedish utility will continue to operate the wind farm (pictured) as a majority shareholder.
Vattenfall president Magnus Hall said: “The market has shown a considerable interest in Ormonde. The main reason is that the wind farm is profitable and considered to have good prospects for stable and continuous profitability.
“Our partner AMF is a serious and long-term investor. We are therefore very pleased with completion of this deal.”
AMF head of asset management Peder Hasslev added: “The Ormonde wind farm investment being sustainable with good returns fits us therefore very well. Conditions for offshore wind power in the UK are favourable and in combinations with the partnership and deep knowledge in the wind area of Vattenfall we feel confident about doing this investment.”
Image: Senvion
Vattenfall offloads Ormonde stake
Deal signed with AMF for 49% stake in 150MW offshore wind farm
By EBS