United Kingdom

United Kingdom

GIP sells further 12.5% stake in Hornsea One offshore wind farm

Global Infrastructure Partners (GIP) has sold a 12.5% stake in the 1.2GW Hornsea One offshore wind farm to utility Octopus Energy Group's generation business — acting on behalf of pension scheme Nest — and GLIL Infrastructure. The two partners invested £200 million (€239 million) each.

This means the Hornsea One wind farm, in operation off the Yorkshire coast, north-east England since 2020, is now owned by developer Ørsted (50%), GIP (14.8%), Greencoat Capital (12.5%), Octopus/GLIL (12.5%) and the Renewables Infrastructure Group (10.2%).

The deal marks Octopus Energy's third foray into the offshore wind sector, following investments in the UK's Lincs and the Netherlands' Borssele V wind farms, as well as floating offshore wind developer Simply Blue.

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