British power generator and network operator SSE said on Tuesday it was going ahead, along with its joint venture partners, with the development of a 2 gigawatt offshore wind farm in the Netherlands.

SSE said the wind farm would be commissioned by the end of this decade, subject to reaching a final investment decision by late 2025.

The consortium will enter into the 40-year lease period for the site for an annual payment of around 1 million euros ($1.1 million).

In June, the Dutch government awarded permits for offshore wind farm development totalling 4 gigawatts (GW) off the west coast of the Netherlands.

SSE Renewables, via a consortium including Dutch pension fund ABP and its asset manager APG, were selected to proceed with their bid for a 2 GW site called IJmuiden Ver Wind Farm Alpha, the company said.

Swedish energy company Vattenfall and clean energy fund manager Copenhagen Infrastructure Partners, through a joint venture called Zeevonk, were chosen to develop a 2 GW wind farm called IJmuiden Ver Beta.

(Reporting by Yadarisa Shabong in Bengaluru and Marwa Rashad in London; Editing by Rashmi Aich and Christina Fincher)