The UK Green Investment Bank Financial Services (GIBFS) has executed a second close on new commitments of £355m (€474m) for the Offshore Wind Fund, bringing total committed capital to £818m (€1.1bn) and nearing its £1bn (1.33bn) target.
The Fund is the first to be dedicated solely to investments in offshore wind power generation globally and provides long-term institutional investors with the opportunity to access the UK’s green infrastructure sector. The Fund has taken over a 10% stake in the 576 MW Gwynt y Môr offshore wind park in the Liverpool Bay (United Kingdom) that was inaugurated in June 2015; the Fund also owns a 24.95% stake in the 90 MW Rhyl Flats offshore wind park operated by RWE Innogy UK off the coast of North Wales and a 20% stake in the 317 MW Sheringham Shoal offshore wind park operated by Statkraft off the coast of Norfolk.
The GIBFS fund is the largest renewable energy fund in the United Kingdom.
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