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Legal & General finances renewables sector with Dudgeon offshore wind farm
LGIM Real Assets (“LGIM RA”) announces that it has invested, on behalf of its clients including Legal & General Retirement Institutional (LGRI), in Dudgeon Offshore Wind Ltd, as it continues to invest in and commit to providing clean energy to the UK.
20 Dec 2018
The Dudgeon Offshore Wind farm (“Dudgeon” or “the wind farm”), owned by Equinor, Masdar and China Resources Group, is one of the world’s largest offshore wind projects. The wind farm consists of 67 Siemens turbines located around 32 kilometres off the east coast of England producing enough electricity to power 410,000 homes in the UK and displace 893,000 tonnes of carbon dioxide.
The Dudgeon offshore wind transaction is the third significant investment made in UK offshore wind by LGIM Real Assets clients in just over a year. Previous investments include the Walney Extension and most recently the Hornsea Project One offshore wind farm. These three wind farms have the capacity to provide enough power to service over 2,000,000 homes.
Tom Sumpster, Head of Infrastructure Finance, LGIM Real Assets: "This is another great investment for us in the renewables sector. Recognising the importance of the offshore wind industry and the role it will play in providing clean energy to the UK, we will continue to deploy capital to this sector on behalf of our clients."