One of the world’s leading infrastructure investors, Global Infrastructure Partners, this week announced that it has acquired a 50% stake in the German 450 MW Borkum Riffgrund 2 Offshore Wind Farm from Danish wind energy developer DONG Energy.
Specifically, Global Infrastructure Partners III (GIP III), an equity fund managed by Global Infrastructure Partners (GIP), has acquired a 50% stake in the 450 MW offshore wind farm from DONG Energy for a total consideration of approximately €1,170 million (subject to approval by competition authorities).
The 450 MW Borkum Riffgrund 2 Offshore Wind Farm is currently under construction by DONG Energy in the German North Sea, off the coast of Lower Saxony. DONG Energy originally committed to building the project back in June, 2016, and at the beginning of this year it was announced that Vestas would provide 56 of its V164-8.0 MW wind turbines.
Retaining 50% of its stake, DONG Energy will not only continue to provide engineering, procurement, and construction services to the project, but will also provide operation and maintenance services as well as a route to market for the power production of the project.
This is the second joint venture between DONG Energy and GIP, following GIP’s acquisition of a 50% stake in the Gode Wind 1 Offshore Wind Farm back in September, 2015.
“We’re pleased to be able to build on the partnership we established with GIP in relation to Gode Wind 1 in 2015,” said Samuel Leupold, Executive Vice President and CEO of Wind Power at DONG Energy. “That partnership has been a success for all parties, and we’re committed to ensuring a similar success in relation to Borkum Riffgrund 2.”
“This second transaction with DONG Energy continues and strengthens our successful partnership,” added Adebayo Ogunlesi, Chairman and Managing Partner of GIP. “DONG is a recognized leader in the energy sector and the pioneer in the development and operation of offshore wind farms, and this acquisition underscores GIP’s strategy of investing in superior quality projects and developing long-term strategic partnerships with industry leaders.”
Source: cleantechnica.com
