Danish infrastructure fund Copenhagen Infrastructure Partners (CIP) will commit EUR 384 million to the project, giving it a 67% stake and a 49% voting interest in the connection.
CIP is funded by the Danish pension fund PensionDanmark.
The project involves the construction of a 900MW direct-current grid connection for wind farms in the south-western part of the German North Sea.
Cables will run 83 kilometres from the wind farm to the coast. The grid connection then covers another 79 kilometres on land to the converter station at Dörpen West.
The total construction costs of the DolWin3 connection are expected to amount to EUR 1.9 billion. Project completion is expected by late 2017.
Tennet is contracted to deliver 13 offshore grid connections with a total capacity of 8GW by 2019.