Positive
Project advancing - milestone achieved
High Impact
Major milestone or critical setback
On 31 March 2014, the UK Green Investment Bank (GIB) committed £241 million of equity to the Westermost Rough offshore wind farm, investing alongside Japan's Marubeni Corporation to jointly purchase a 50% stake in the 210 MW project from DONG Energy as part of a transaction of around £500 million. This represented GIB's first investment taking construction risk in offshore wind, providing public co‑financing to help fund the approximately £800 million construction of the wind farm off the Yorkshire coast.