Private investment company Partners Group is taking a 45% stake in the 731.5MW Borssele 3&4 offshore wind farm in the Netherlands.
The Swiss equity outfit becomes the leading shareholder in the so-called Blauwwind consortium, with Shell now on 20%, Mitsubishi on 15% and Eneco and Van Oord with 10% each.
Shell previously held 40%, Mitsubishi 30% and Eneco 20%. Van Oord remains at its previous shareholding. Terms of the deal were not disclosed.
“The agreement is the outcome of a planned assessment by consortium partners Shell, Diamond Generating Europe (Mitsubishi) and Eneco Group on how to best fund the Borssele 3&4 project,” said the consortium.
Partners Group partner Brandon Prater said: “Renewable energy continues to be a transformative trend within the infrastructure asset class and an important component in the future energy security of many countries.”
He added: “With the Dutch government committing to receiving 16% of its energy production from sustainable sources by 2023 as part of a National Renewable Energy Action Plan, we believe the Borssele project is both timely and critical in helping the country achieve that aim.”
Eneco chief executive Kees-Jan Rameau said: “It is quite common to enhance the financing structure of a capital-intensive project like Borssele 3&4 along the way.”
Image: Blauwwind partner Eneco already operates wind farms off the Netherlands (Eneco)
Shell & Co divest Borssele stake
By EBS