Partners Group is investing €250m in an offshore German wind scheme.
The investment manager is funding the construction of Merkur Offshore, a 400MW wind farm, for clients.
Partners Group is the largest shareholder in a group of investors including contractor-related entities DEME Concessions Wind and GE Energy Financial Services.
InfraRed Capital Partners and the French state’s L’Agence de l’environnement et de la maîtrise de l’énergie (ADEME) are also part of the group.
Partners Group said the scheme would benefit from Germany’s offshore feed-in tariff.
Brandon Prater, a partner and co-head of private infrastructure at Partners, said: “With several coal-fired and nuclear power plants due to be retired across Germany by 2020, Merkur is a timely project and will contribute towards maintaining the country’s energy supply, while catering to the long-term shift towards renewables in the power generation mix.”
The Merkur scheme will include 66 GE Haliade, 150-6 MW turbines off the North Sea coast.
Work on the scheme will begin next year, with completion expected by early 2019.