The U.K. Green Investment Bank said Monday it was investing in two wind energy programs to help position the country as a world leader in the sector.
"These investments are part of a strategy, led by Green Investment Bank, to mobilize capital into the UK offshore wind industry," the bank's chief executive, Shaun Kingsbury, said in a statement.
For $360 million, the bank acquired a 10 percent stake in the Gwynt y Mor offshore wind farm from Germany's RWE Innogy. That project is the largest offshore wind farm under construction in Europe and will be more than twice the size of Westernmost Rough once fully operational.
British Energy and Climate Change Secretary said his country is the world leader in offshore wind investments.
"This news is proof of the strength of investment in British energy infrastructure," he said.