In a major development for the renewable energy sector, French investors have acquired a 50% stake in the Hornsea Two wind farm. The wind farm, located off the coast of Yorkshire in the UK, is set to become the world’s largest offshore wind farm once completed.
The acquisition was made by EDF Renewables and Enbridge, who have sold a 50% stake in the project to a consortium of investors led by French utility company, Total. The consortium also includes the Green Investment Group, a subsidiary of Macquarie Group, and the Canadian pension fund, Caisse de dépôt et placement du Québec.
The Hornsea Two wind farm is being developed by Danish energy company, Ørsted, and is expected to have a total capacity of 1.4 gigawatts (GW) once completed. The wind farm will consist of 165 turbines, each with a capacity of 8.4 megawatts (MW), and will be capable of generating enough electricity to power over 1.3 million homes in the UK.
The project is expected to create over 2,000 jobs during the construction phase and will provide long-term employment opportunities for local communities once operational. The wind farm is also expected to contribute significantly to the UK’s efforts to reduce carbon emissions and meet its renewable energy targets.
The acquisition of a 50% stake in the Hornsea Two wind farm by French investors is a significant development for the renewable energy sector. It highlights the growing interest in offshore wind farms as a viable source of renewable energy and the potential for international collaboration in the sector.
The involvement of Total, one of the world’s largest oil and gas companies, in the project also demonstrates the shift towards renewable energy sources by traditional fossil fuel companies. Total has set a target of achieving net-zero emissions by 2050 and has been investing heavily in renewable energy projects in recent years.
The Hornsea Two wind farm is expected to be completed in 2022 and will play a significant role in the UK’s efforts to transition to a low-carbon economy. The involvement of French investors in the project is a positive step towards international collaboration in the renewable energy sector and highlights the potential for further investment in offshore wind farms in the future.
