Innogy's Triton Knoll wind project closes $2.6bn financing

German renewable energy giant innogy has closed financing for its Triton Knoll wind project, which is now ready for construction.

Financing for the project has totaled $2.6bn (£2bn), with innogy having arranged a consortium of 15 lenders to secure $2.25 (£1.75bn) of the funding. These include ING, BNP Paribas and Santander.

This follows Japanese utilities companies J-Power and Kansai Electric Power having bought stakes from innogy in the project, providing the additional finance.

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Hans Bünting, COO of renewables at innogy, stated: “By reaching financial close, we have created the financial foundation for realising and operating the Triton Knoll offshore wind farm jointly with our new equity partners and international lenders.”

Julian Garnsey, project director of Triton Knoll, added: “This is a great moment for Triton Knoll and the UK offshore wind industry as we formally secure the means to deliver around $ (£2bn) of new UK energy infrastructure.

“Triton Knoll expects to deliver at least 50% of our investment with UK firms over the project’s lifecycle and at the height of construction we expect to see over 3,000 people working on the project.”

You can read more about innogy’s journey in the August issue of Energy Digital.