Investment Date: March 20, 2023
We have acquired a 3.3% stake in Hornsea One, one of the world’s largest operating offshore wind projects. Hornsea One is part of the Ørsted’s Hornsea offshore wind project series located off the northeastern coast of England. The project installs 174 turbines in a vast area of approximately 407 square kilometers and has a combined total capacity of 1.2 GW. It has a proven operational track record under the administration of Ørsted, a leading offshore wind operator, and is expected to offer long-term, sustainable cash flow.
The U.K. has the world's largest offshore wind power generation capacity (excluding China), and numerous projects are being constructed and operated in a sustainable manner, underpinned by various systems. We believe that we can bring back industry knowledge and expertise gained from the project to improve our domestic businesses. Another point to highlight is that this acquisition is constructed on our partnership with Equitix, which has been cultivated since our first co-investment in Electricity North West in 2019.
This is our first investment in an offshore wind project and thus is a significant milestone for us in accelerating market exploration and contribution to achieving a sustainable capital cycle. Together with Equitix and other partners, we aim to seek further for investment opportunities and eventually expand our renewable energy and infrastructure portfolio in Europe.
Posted on March 20, 2023