News / Marubeni Corporation to divest part of Gunfleet Sands offshore wind farm shares

Marubeni Corporation to divest part of Gunfleet Sands offshore wind farm shares

🕔 January 7, 2014
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Marubeni Corporation has entered into an agreement with Development Bank of Japan (DBJ) in which Marubeni will divest a part of its shares in the 172-megawatt Gunfleet Sands Offshore Wind Farm located in the United Kingdom to DBJ.

Marubeni had purchased its original holding for 200 million ($329 million) pounds in 2011.

The bank and Marubeni will now each own 24.95 % of the Gunfleet Sands facility off Essex, DBJ said in a statement today. Denmark-based Dong Energy A/S will retain its majority ownership and will continue to operate the project, according to the statement, which didn't disclose financial terms.

"By partnering up with Marubeni and Dong Energy, who is the market leader in offshore wind, DBJ will be able to support domestic and international renewable energy projects," DBJ said in the statement.

With partnership with DBJ, Marubeni seeks to expand relations and further participate in offshore wind farms in the world.

Marubeni currently owns 33,625MW as gross and 10,291MW as net capacity of power assets including the gross capacity of 1,994MW and net capacity of 815MW in renewable power assets.

Gunfleet Sands is located approximately 7km south-east of Clacton-on-Sea, Essex. The project consists of two parts: Gunfleet Sands 1 with 30 turbines and Gunfleet Sands 2 with 18 turbines. The capacity of each turbine is 3.6MW, giving the Gunfleet Sands project a total capacity of 172MW. The rotor diameter of the turbines is 107m, with a maximum height of 129m from blade tip to sea level.



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