Stake acquired in Gunfleet Sands Offshore Wind Farm

Gunfleet Sands offshore wind farm is located off the Essex coast

Transaction is conditional on, among other things, Marubeni obtaining project financing commitments from financial institutions. Completion is expected to take place sometime during the 4th quarter of 2011.

The wind farm, located in the Thames Estuary off the Essex coast, went into production in the spring of 2010.

Dong Energy and Marubeni have also agreed to a long-term purchase agreement for the power production and green certificates stemming from Marubeni's share of Gunfleet Sands' wind farm.

With the acquisition, Marubeni total worldwide power generating capacity will come to 8,796MW (net), including the 450MW of renewable energy assets, as the comapny states.

Tokyo-based Marubeni Corporation has entered into an agreement with Dong Energy in which Marubeni will acquire a 49.9% stake in Dong Energy’s 172 MW Gunfleet Sands offshore wind farm.

 

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