Dong buys into UK's Round 3 with Hornsea offshore zone deal

Dong has purchased a minority stake in the first two offshore wind parks to be carved out of SMart Wind’s Hornsea zone, almost two years after being unexpectedly shut out of the UK’s Round 3 tender.

SMart Wind – a consortium of Siemens Project Ventures and Mainstream Renewable Power – will receive £15m ($23.3m) for a 33.3% stake in the Njord and Heron Wind zones, which will collectively add up to 1GW. They are likely to be among the first Round 3 projects to reach completion.

In addition Dong has secured an option to buy the remaining 66.7% stake of those two projects at a “fixed market price”, as well as another 1GW of capacity to emerge at future projects within the 4GW Hornsea zone.

The deal represents the…

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