DONG Energy has acquired a 33.3% stake in the first two offshore wind projects in the Hornsea zone from SMart Wind, the 50/50 joint venture between Mainstream Renewable Power and Siemens' Financial Services unit, represented by Siemens Project Ventures GmbH.
The wind projects – Heron Wind Ltd. and Njord Ltd. – have a potential total capacity of up to 1 GW.
The initial purchase price has been agreed at approximately 15 million British pounds for a 33.3% share of the projects, with an option to acquire the remaining 66.7% of the shares at a fixed market price. DONG Energy has also acquired an option for an additional 1 GW from the Hornsea zone.
Hornsea is one of nine zones being developed in the seas around Great Britain as part of The Crown Estate's Round 3 program. Mainstream Renewable Power and Siemens Project Ventures formed SMart Wind in 2009 to deliver the zone into operation by 2020.