The Development Bank of Japan (DBJ) will purchase half of Marubeni’s 49.9% stake in the 172MW Gunfleet Sands wind farm off eastern England.
Each side will now hold 24.95% of the first and second phases of the project, which includes 48 Siemens turbines, roughly 7km off the coast of Essex in the Thames Estuary. They did not reveal the financial terms of the deal.
“Offshore wind (will) be one of the next main renewable energy industries" in Japan, the DBJ said, adding that the partnership will give it the opportunity to invest in more renewables projects at home and abroad.
Denmark’s Dong Energy will remain Gunfleet Sands’ majority stakeholder and will continue to run the wind farm, the DBJ and Tokyo-based Marubeni said in separate online statements.
Dong sold a 49.9% stake in Gunfleet Sands to Marubeni for £200 million ($328.8m) in autumn 2011.
Last September, it opened the adjacent Gunfleet Sands 3 demonstration site, which is the testing ground for Siemens’ new 6MW turbines.
Marubeni, a diversified trading company that currently claims a net renewable-energy capacity of 815MW globally, says it will continue to invest in offshore wind projects throughout the world.
Earlier this week, the DBJ revealed plans to partner with six banks in offering ¥19.5bn ($186.8m) to trading firm Sojitz to build a 71MW utility-scale PV plant in northeastern Japan.