Glennmont Partners is to acquire a 25% stake in the 330MW Gode 1 offshore wind farm in the German North Sea from Global Infrastructure Partners (GIP) for an undisclosed amount.
The deal will see GIP offload its remaining interest in Gode, having already agreed a transaction with The Renewables Infrastructure Group earlier this month for 25% of the project.
Danish developer Orsted holds the remaining 50% of the wind farm, which has been operational since February 2017.
The Glennmont acquisition is expected to close in the third quarter of 2019.
Glennmont Partners managing partner Joost Bersma said: “We are delighted to announce this important transaction as Glennmont’s first investment in the German offshore wind market and to be partnering with Orsted, a recognised leader in the sector.
“Gode Wind 1 represents a high-quality offshore wind assets supported by a demonstrable track record of cash flow generation to deliver value for our investors.”