Partners Group has agreed to sell a 20 percent stake in Dutch offshore wind farm Borssele 3&4 to Swiss Life Asset Managers on behalf of its investors.
Borssele is a fully operational offshore wind farm located 55 kilometers from the Port of Vlissingen in the Netherlands.
The wind farm is comprised of 77 turbines and benefits from a feed-in premium regime, which provides highly visible, long-term contracted cashflows. Borssele began operations in 2021.
The wind farm is designed to generate 3,000 GWh of energy annually, which is enough to power approximately 825,000 Dutch households.
Partners Group invested in Borssele in June 2018 as part of its thematic approach to investing in infrastructure assets that benefit from decarbonization trends.
During its holding period, Partners Group said it has transformed Borssele by implementing several value creation initiatives, alongside other shareholders.
This included ensuring the windfarm’s construction was completed within budget.
David Daum, Managing Director, Private Infrastructure Europe, Partners Group said:”Through our thematic investing approach, we identified offshore wind at the right time as a key contributor towards achieving global net-zero goals in a high growth market.
“We invested in Borssele before construction had started, contributed to the set-up of an independent organisation to handle daily operations, and guided the project through difficult conditions during the COVID pandemic to full operational status. Borssele now generates the equivalent of 2.3% of Dutch electricity demand.”
Borssele’s other shareholders are Shell, Eneco, INPEX, and Luxcara.
Partners Group’s Private Infrastructure business has USD 21 billion in assets under management and has made over 130 investments in 18 countries globally.
Completion of the transaction is subject to customary regulatory approvals.