Northland Power has completed the acquisition of the 252MW DeBu wind farm in the German North Sea from British Wind Energy.
The Canadian group said it expects to invest about $400m in the €$1.3b development, sourced from cash and debt.
The rest of the project financing will be sourced from non-recourse finance debt and pre-completion revenues.
Northland said it's still investigating the addition of two demonstration turbines using suction bucket foundations.
Their development would add an extra 17MW of capacity and €100m to the total project cost.
The acquisition of DeBu was first flagged in March.
Image: MHI Vestas is to supply turbines to DeBu (Vestas)