Thai outfit Gulf Energy Development Public Company has completed the acquisition of a 50% stake in the 465MW Borkum Riffgrund 2 offshore wind farm in the German North Sea.
The deal, which was first announced in July, sees the company’s subsidiary Gulf International Holding acquire all of Global Infrastructure Partners’ interest in the wind farm.
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Gulf Energy said that all conditions precedent under the share purchase agreement have been fulfilled.
These included obtaining licenses and permits from the German authorities and creditors or debenture holders of the project.
Orsted owns the remaining 50% in the project, which started commercial operations in APril 2019.