Denmark's Orsted has sold half of its 1.2 GW Hornsea 1 offshore UK wind farm to GIP (Global Infrastructure Partners) for £4.46bn ($5.87bn). The sale will be part-funded with a £3.5bn-plus credit package, including investment grade-rated project bonds, commercial bank loans and mezzanine debt. As part of the sale, Global Infrastructure Partners will also meet half the building costs for the project, which is located off the east English coast and is due to start operations in 2020.
Denmark's Orsted has sold half of its 1.2 GW Hornsea 1 offshore UK wind farm to Global Infrastructure Partners (GIP) for £4.46bn ($5.87bn). The sale will be part-funded with a £3.5bn-plus credit package, including investment grade-rated project bonds, commercial bank loans and mezzanine debt. As part of the sale, GIP will also meet half the building costs for the project, which is located off the east English coast and is due to start operations in 2020.