Norway’s Equinor has struck a deal to sell a 25% stake in the 385MW Arkona offshore wind farm in the German Baltic Sea to Credit Suisse Energy Infrastructure Partners for about €500m ($550m).

Equinor currently holds a half share in Arkona, which will continue to be operated by RWE Renewables (following its takeover of E.ON Climate and Renewables) as 50% owner.

“This divestment demonstrates Equinor’s ability to realise value from the development of offshore wind projects.