Global Infrastructure Partners (GIP) has acquired a 50% stake in the 1218MW Hornsea 1 offshore wind farm from Ørsted.
Hornsea 1 is currently under construction and will be the world’s largest offshore wind farm when commissioned in 2020.
The project will use 174 Siemens Gamesa 7MW turbines.
The financing is the largest single project financing ever in the renewable energy sector. The package includes bank funding and a mezzanine tranche provided by Danish pension fund PFA. A portion of the debt is covered by the Danish Export Credit Agency EKF.