J-Power will hold 25% whilst KEPCO will hold 16%.
Electric Power Development Co., Ltd. (J-Power) and Kansai Electric Power Co., Inc. (KEPCO) bought a 41% stake in the large-scale Triton Knoll Offshore Wind Farm, operated by UK company innogy SE. J-Power will hold 25% of the farm, whilst KEPCO will hold 16%.
According to an announcement, J-Power subsidiary JP Renewable Europe Company (JPREC) will also procure a part of its investment funds by issuing preferred equity to Development Bank of Japan Inc.
Triton Knoll is an offshore wind project with a planned installed capacity of 860MW. Once fully operational, Triton Knoll Offshore Wind Farm will be capable of supplying the equivalent of 800,000 UK households per annum with renewable electricity. The planned investment volume amounts to approximately £2b.
Enabling works are now underway at the site of the project’s onshore electrical system, which includes a 57 km underground cable route, landfall infrastructure and construction of a new onshore substation at Bicker Fen, in Lincolnshire. Full construction of the onshore electrical system is on schedule to begin shortly, innogy said.
Offshore construction is then expected to start in late 2019 and, according to current planning, commissioning of Triton Knoll is expected to start in 2021.
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