Dudgeon – co-developed by Norway’s Statoil and Statkraft, along with Abu Dhabi company Masdar – is the first offshore wind project to close financing under the UK’s contract-for-difference (CfD) support scheme, the consortium said.

Dudgeon was granted a CfD in April 2014 at a strike price of £150/MWh.

Institutions involved in the limited-recourse financing include Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, KfW IPEX-Bank, Santander, Societe Generale, Siemens Financial Services and Sumitomo Mitsui Banking Corporation.

The