Belgian marine company DEME has completed the sale of its stake in the 396MW Merkur wind farm in the German North Sea in a deal worth €62m.
The 12.5% share has been sold by DEME subsidiary DEME Concessions to Dutch pension investor APG and The Renewables Infrastructure Group (TRIG), the FTSE 250 London-listed outfit advised by InfraRed Capital Partners.
The transaction closed on 12 May.
Other partners in the wind farm include funds managed and advised by Partners Group (50%), GE Energy Financial Services (6.25%) and ADEME, acting on behalf of the French Investments for the Future programme (6.25%).
InfraRed Capital Partners already held a 25% share in the project holding company Merkur Offshore, which built and operates the project 45km north of the island of Borkum.
The project comprises 66 GE Haliade‐150 6MW offshore wind turbines was fully commissioned in June 2019.
Merkur benefits from a guaranteed feed-in tariff until 2033 and has a 10-year O&M agreement with GE Renewable Energy for the service and maintenance of the turbines.