Japanese firms win stake in major UK offshore wind farm

Two Japanese companies have purchased a 41 per cent stake in the Triton Knoll offshore wind farm off the east coast of England.

Germany company Innogy sold the assets to J-Power (25 per cent) and Kansai Electric Power (16 per cent) for an unspecified amount, and will retain a 59 per cent controlling stake in the project.

Once operational in 2021, Triton Knoll will have a maximum capacity of 860 megawatts, enough to power around 800,000 UK homes. It is expected to require £2 billion of investment and support 2,000 jobs.

The wind farm was one of the winners in last year’s competitive auction to secure long-term financial support from the UK Government. The subsidy contracts provide guaranteed support, underwritten by bill payers, for 15 years. This is around half the lifetime of the project, making it an attractive proposition to potential investors.

Makoto Honda, director at J-Power, commented: “As the leading provider of wind power in Japan, we are very proud of entering into this overseas offshore wind power project which is a first for a Japanese electric power utility. We are actively continuing to develop new wind power projects both in the domestic market and in the overseas market”.

Hans Bünting at Innogy, added: “As we continue to grow our offshore portfolio across the globe, the securing of valued, strategic partnerships is a key objective within our strategy. The signed agreement highlights the attractiveness of our offshore development projects.”

It’s anticipated that Triton Knoll will use turbines rated at 9.5 megawatts each, making them the most powerful in the world. The huge machines will rise almost 200 metres into the sky and harness the wind’s power across an area larger than the London Eye.

The 9.5MW machine also highlights the rapid technological progress in the offshore wind industry. The turbine is almost 5 times more powerful than the first UK models built in 2001.

 

Photo Credit: Innogy