Denmark's Orsted said on Monday it has exercised a right to buy back the remaining share of the Gunfleet Sands offshore wind farm in Britain for £15 million ($20 million).
The Danish wind farm developer previously owned 50.1 per cent of the 172 megawatt Gunfleet Sands 1 and 2 wind farm.
Japanese power generator JERA held 24.95 per cent while the Development Bank of Japan (DBJ) owned 24.95 per cent.
Gunfleet Sands is located seven kilometres (four miles) off south-eastern Britain.
The move allows Orsted to assess future late-life options for the farm, including a potential lifetime extension, it said in a statement.
The transaction, which follows a long-standing buyback right established in the original partnership deal, is expected to close in November.
Gunfleet Sands 1 and 2 has been operational since 2010 and generates enough renewable electricity to power over 125,000 UK homes annually.
(Reporting by Louise Rasmussen, editing by Anna Ringstrom)