The Danish utility has also agreed to share construction risk with the Macquarie European Infrastructure Fund 5 and Macquarie Capital under the deal.
The wind farm will be situated about 16.8 miles off Blakeney Point on the North Norfolk coast and 17.4 miles off the Lincolnshire coast at Chapel St Leonards.
It will feature 91 Siemens SWT-6.0-154 6MW turbines with a rotor diameter of 154m.
The wind farm, which is anticipated to be fully commissioned in 2018, will generate enough electricity to power over 400,000 households in the UK per year.
Dong will manage the completion of the construction phase under a construction management deal. The company will also offer operations and maintenance services from its O&M base in Grimsby.
The Danish firm has also agreed to provide a route to market for the electrical output and green certificates for Macquarie’s 50% share in the wind farm.
Dong Energy Wind Power executive vice president and CEO Samuel Leupold said Macquarie has successfully invested in infrastructure projects world-wide and have experience in offshore wind from previous investments.
“We have seen a high level of interest from a number of potential investors in Race Bank. This proves that our partnership model continues to be attractive.”
Macquarie Capital Europe Energy and Infrastructure head Mark Dooley said: "Macquarie Group launched in the UK in 1989 and has since invested £6bn of capital into European renewables – and this further demonstrates our ongoing focus and commitment to the offshore wind sector.”
Image: Dong Energy sells half of stake in Race Bank offshore wind farm. Photo: Courtesy of DONG Energy A/S.
