Denmark’s Dong Energy has agreed to sell half of its 450MW Borkum Riffgrund 2 offshore wind project in the German North Sea to Global Infrastructure Partners (GIP), in a deal worth €1.17bn ($1.38bn).

The deal marks the second investment for New York-based GIP in a Dong offshore wind project, following the half-stake it acquired in the 330MW Gode Wind 1 project in 2015.