Japan’s Daiwa Acquires Minority Stake in 1.2 GW Hornsea One Offshore Windfarm

Japan’s Daiwa Energy & Infrastructure has announced that it has acquired a minority stake in Hornsea One offshore wind project. Daiwa said in its official statement that the acquisition is constructed on its partnership with Equitix, which has been cultivated since its first co-investment in Electricity North West Limited in 2019.

Daiwa Energy & Infrastructure is a strategic investment arm of Daiwa Securities Group Inc. This transaction does not fall under the timely disclosure standards set by the Financial Instruments Exchange for the group.

Hornsea One is one of Ørsted’s Hornsea offshore wind project series located off the North-East coast of England. The project installs 174 turbines in a vast area of approximately 407 square kilometers with a generation capacity of 1.2GW. Daiwa expects sustainable cash-flows for the long-term based on the proven operational track record backed by Ørsted, one of the prestigious offshore wind operators in the world.

Daiwa said that this is their first investment in an offshore wind project which is a significant milestone to accelerate the exploration in the market and contribute to achieving a sustainable capital cycle with the core concept of “From Savings to SDGs.” The Group has enshrined this as the management vision for 2030.

Daiwa Securities Group established the SDGs Promotion Committee in 2018, incorporating the perspective of SDGs into the foundation of our management strategy, and has endeavored to provide products and services contributing to the realization of a sustainable society. Daiwa wants to achieve SDG Goal 7 of “Affordable and Clean Energy” and Goal 13 of “Climate Action.”

1.2 GW Hornsea One was already commissioned in 2020 and the UK government has also authorised the development of Hornsea Three.

Hornsea Two will span an offshore area of 462 sq km that can provide power to more than 1.4 million European households. It became fully operational on 31 August 2022.