Japanese trading house Marubeni Corp will invest about 200 million pounds ($323.2 million) in a British offshore wind farm run by Danish energy company Dong Energy A/S, business daily Nikkei reported.
Marubeni will acquire a 49.9 percent stake in Gunfleet Sands Offshore Wind Farm, owned by Dong, by next month, Nikkei said.
With this tie-up, Marubeni plans to roughly triple its renewable energy capacity to more than 1 gigawatt by next fiscal and launch offshore wind farms in Japan, where wind power has been slow to catch on, the Nikkei said.
It will also help Dong build new offshore wind farms and obtain peripheral parts, the daily learned.
Gunfleet Sands wind farm, which supplies electricity to about 125,000 households in England's southeast, consists of 48 turbines with a capacity to generate 172,000 kilowatts, making it Dong's third-largest offshore wind farm, the daily said.
Dong, which is owned by the Danish government, claims a roughly 30 percent share of the global market for offshore wind farms, last year, the Nikkei wrote. ($1 = 0.619 British Pounds)