Macquarie Asset Management has reached an agreement to sell stakes in eight offshore wind farms around the UK to infrastructure manager and investor, Equitix.
The agreement will see Macquarie European Infrastructure Fund 5’s 50% stake in Offshore Wind Company sold to funds managed by the UK-headquartered Equitix.
Offshore Wind Company holds various direct and indirect stakes in a 2.4GW portfolio comprised of eight operational offshore wind farms and is one of the world’s largest and diversified offshore wind portfolios. This includes direct stakes held in the 400MW Rampion, 353MW Galloper and 210MW Westermost Rough offshore developments.
Offshore Wind Company also owns indirect stakes in the 576MW Gwynt y Mor, 317MW Sheringham Shoal, 270MW Lincs, 196MW Lynn and Inner Dowsing and 90MW Rhyl Flats offshore wind farms via a limited partnership share in Macquarie Green Investment Group Renewable Energy Fund 1.
“These projects have played a crucial role in supporting the early transformation of the country’s energy mix and establishing the UK’s reputation as one of the world’s leading markets for offshore wind,” said managing director at Macquarie Asset Management David Tilstone.
“We look forward to taking forward the next phase of projects to help meet the UK’s goal of 50GW of installed offshore wind capacity by the end of this decade.”
Following this transaction, Macquarie Asset Management and its Green Investment Group will continue to manage stakes in Gwynt y Môr, Sheringham Shoal, Lincs, Lynn and Inner Dowsing and Rhyl Flats via Macquarie Green Investment Group Renewable Energy Funds 1 and 2 alongside its investments in the 573MW Race Bank and 714MW East Anglia One offshore wind farms.
Macquarie and its partners are also supporting the development of the 2GW West of Orkney, 1.5GW Outer Dowsing, 1.2GW Rampion 2, and 353MW Five Estuaries offshore wind projects.