Orsted buys back British offshore windfarm stake for $20 million

COPENHAGEN, Oct 12 (Reuters) - 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% of the 172 megawatt Gunfleet Sands 1 and 2 wind farm

• Japanese power generator JERA held 24.95% while the Development Bank of Japan (DBJ) owned 24.95%

• Gunfleet Sands is located 7 km (4 miles) off southeastern 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 & 2 has been operational since 2010 and generates enough renewable electricity to power over 125,000 UK homes annually

($1 = £0.7551)

(Reporting by Louise Rasmussen, editing by Anna Ringstrom)