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Danish Pension Firms Take 50% Ownership Of Walney Windfarm

The company behind a huge windfarm off the coast of Barrow has sold half of the development to investment companies for £2bn.

Ørsted, previously known as DONG Energy, has signed an agreement to sell 50% of Walney Extension, a 659 megawatt (MW) UK offshore wind farm project to a consortium consisting of PKA and PFA, two leading Danish pension funds.

Each investor will obtain a 25 per cent ownership in the project.

Walney Extension, which is currently under construction, will be the world’s largest offshore wind farm when commissioned in the second half of 2018. It will contain 87 wind turbines.

Henrik Poulsen, chief executive of Ørsted, said: ”We’re delighted to welcome two Danish pension funds as co-owners of Walney Extension. We already have a strong partnership with PKA on three other offshore wind farms and we look forward to building an equally long-lasting relationship with PFA on what will be the world’s biggest wind farm when completed.

"Both partners are committed to the green energy transition and I’m pleased that our offshore wind assets continue to be attractive to institutional investors.”

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