Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
On 18 May 2015, the UK Green Investment Bank announced it had acquired a major equity stake in a joint venture with E.ON to construct and own the 400 MW Rampion Offshore Wind Farm off the Sussex coast, enabling the project to commence construction. The deal, which ultimately increased GIB’s investment to a 25% stake valued at £306 million within an overall project investment of around £1.3 billion, secured financing for the three‑year build of 116 Vestas V112‑3.45 MW turbines located 13 km offshore.