Neutral
Informational - no clear directional impact
Low Impact
Minor progress or informational
In 2014, Marubeni Corporation and the UK Green Investment Bank refinanced their combined 50% equity stake in the 210 MW Westermost Rough offshore wind farm by raising £370 million (€444 million) of non‑recourse debt from a syndicate of five international lenders, including the Japan Bank for International Cooperation (JBIC), which underwrote 47% of the debt tranche. The refinancing followed DONG Energy’s majority ownership model, with DONG continuing to finance its 50% stake on balance sheet while the new debt structure optimised financing for the minority partners.