£240m boost for UK offshore Wind
The UK’s position as a world leader in offshore Wind power generation has been cemented with a new £240m investment from the Green Investment Bank (GIB).
The state owned Green Investment Bank has purchased a 20% stake in the 315MW Sheringham Shoal offshore wind farm for an agreed valuation of £240m. It is the Bank’s second-largest investment to date – just shy of the £240.8m investment in Westermost Rough offshore wind farm announced last year.
Over time, GIB will transfer the investment to its Operating Offshore Wind Fund which aims to strengthen the UK offshore wind sector by allowing developers to recycle capital into new projects and attracting new investors.
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