Dong Energy has acquired the remaining 66.66% ownership interest in the UK offshore wind development Hornsea Project One from its joint venture partner SMart Wind.
SMart Wind is a 50/50 joint venture between Mainstream Renewable Power and Siemens Financial Services. Hornsea Project One has a total capacity of up to 1.2GW. DONG Energy entered into the joint venture with SMart Wind in December 2011, with an option to acquire the remaining 66.66% ownership interest upon the development project receiving consent from the Secretary of State for Energy and Climate Change. Consent was granted in December 2014 and DONG Energy, having exercised its option, has become the sole owner of the project. Hornsea Project One is located 120 kilometres off the Yorkshire coast and covers approximately 407 square kilometres. Dong Energy will now continue on their own to develop the project towards a final investment decision. Hornsea Project One is expected to enter into commercial operation around 2020, provided that a final investment decision will be taken.
Dong Energy acquires full ownership of Hornsea Project One
Dong Energy has acquired the remaining 66.66% ownership interest in the UK offshore wind development Hornsea Project One from its joint venture partner SMart Wind. SMart Wind is a 50/50 joint venture between Mainstream Renewable Power and Siemens Financial Services. Hornsea Project One has a total capacity of up to 1.2GW. DONG Energy entered into the joint venture with SMart Wind in December 2011, with an option to acquire the remaining 66.66% ownership interest upon the development project receiving consent from the Secretary of State for Energy and Climate Change. Consent was granted in December 2014 and DONG Energy, having exercised its option, has become the sole owner of the project. Hornsea Project One is located 120 kilometres off the Yorkshire coast and covers approximately 407 square kilometres. Dong Energy will now continue on their own to develop the project towards a final investment decision. Hornsea Project One is expected to enter into commercial operation around 2020, provided that a final investment decision will be taken.