Macquarie European Infrastructure Fund 5’s 15.5% stake in Lincs offshore wind farm (Lincs) has been sold to funds managed by Octopus Energy Generation.
Lincs is situated in the North Sea, 8km off the east coast of England.
Operational since 2013, the 270 MW offshore wind farm comprises 75 turbines and powers the equivalent of 278,000 homes annually.
Macquarie European Infrastructure Fund 5 has held the minority stake since 2017.
The stake has been acquired by Octopus Renewables Infrastructure Trust and Sky (ORI SCSp), funds managed by Octopus Energy Generation.
Macquarie Green Investment Group Renewable Energy Fund 1 will continue to manage a 44% stake in Lincs following this transaction.
Martin Bradley, Head of Real Assets in EMEA for Macquarie Asset Management, said: “The successful delivery and operation of projects like Lincs over the past decade has made the UK a world leader in the offshore wind sector.
“Investors recognise this, with this transaction a strong vote of confidence in the central role offshore wind will play in enabling the UK to reach net zero.”
The sale was managed by Macquarie Asset Management, who in turn, was advised by Macquarie Capital on the transaction. The terms of the transaction have not been disclosed.
Macquarie Group said in a statement it is helping to accelerate the decarbonisation of the UK’s economy, mobilising investment in established clean technologies like wind and solar while investing across more nascent areas of the energy transition such as hydrogen, electric vehicle charging infrastructure, and battery storage.
The group said it has helped finance approximately 38% of the UK’s operational offshore wind capacity and is supporting the next generation of projects, including the 2 GW West of Orkney and 1.5 GW Outer Dowsing projects in the North Sea.