Japan’s Sumitomo Corporation has signed a contract to invest in the UK’s Galloper offshore wind farm, it has announced.
The firm will take an indirect stake in the 336 MW project through Macquarie Capital, with the transaction due to complete “in the coming months”.
The Galloper offshore wind farm is located in the UK North Sea, 27 km off the coast of Suffolk. Its sponsors, RWE Innogy, Siemens Financial Services, Macquarie and the Green Investment Bank, achieved financial close in October 2015.
“As one of the key business areas, Sumitomo is actively seeking offshore wind business opportunities in the UK, which has the biggest offshore wind market in the world,” Sumitomo said in a statement. “By leveraging on this experience, know-how and partnership with Macquarie Capital, as well as relationships with other stakeholders, Sumitomo aims to continue development of off-shore wind farms in Europe and contribute to global sustainability.”
The £1.5 billion wind farm will comprise 56 Siemens wind turbines installed in water depths of 27-36 m. Construction started in late 2015 and commercial operation is expected to start in 2018.
Sumitomo has investments in three other offshore wind farms, all of which are located in Belgium: Belwind (165 MW), Northwind (216 MW) and Nobelwind (165 MW).
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