DONG acquires full ownership of Hornsea Project One

February 4, 2015

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. 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, located 120km off the Yorkshire coast, covers approximately 407 square kilometers, has a total capacity of up to 1.2GW, which will make it the world’s largest offshore wind farm once completed. Upon completion, the project will be able to meet the electricity needs of around 800,000 UK homes.The project is expected to enter into commercial operation around 2020, provided that a final investment decision will be taken.

 

 



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