Danish utility Dong Energy has acquired a one-third stake in two offshore wind projects in the Hornsea zone from SMart Wind for £15m.
The projects Heron Wind and Njord have the potential total capacity of 1GW and the stake was sold by the 50/50 joint venture between Mainstream Renewable Power and Siemens Financial Services.
Dong has also obtained an option to acquire the remaining 66.7 per cent of the shares at a fixed market price.
Energy Secretary Chris Huhne welcomed the move. 'There are vast economic gains to be made from offshore wind as a key element of the green economy, securing investment and supporting jobs and growth.
I am delighted that Dong Energy, a major global player, is continuing its involvement in UK offshore wind into Round 3 with these projects off the east coast of England. This is yet another vote of confidence in the UK, as the world's biggest offshore wind market, with the biggest pipeline of projects to 2020.'
Hornsea is one of nine zones being developed in the seas around Great Britain as part of The Crown Estate's Round 3 programme.
Anders Eldrup, CEO of Dong Energy, said, 'Participation in Round 3 is a natural step for Dong Energy taking into account our leading position within offshore wind and our existing presence and focus on the UK market. Hornsea is an attractive zone and the agreement with SMart Wind provides Dong Energy access to development projects, which fits well into our midterm project pipeline.'