NTR and LGIM buy half of Macquarie’s East Anglia One offshore wind farm stake

Macquarie Asset Management (MAM) is divesting a 10% stake in East Anglia One offshore wind farm to NTR Clean Power Europe Fund, a partnership between renewable energy specialist NTR and Legal & General Investment Management (LGIM).

Following this transaction, MAM will retain a 10% stake in East Anglia One.

East Anglia One is a 714MW offshore wind farm, located 43km off the Suffolk coast, capable of generating enough electricity to power the equivalent of 630,000 homes each year.

Bill Hughes, global head of real assets, LGIM, said: “The range of investable assets coming as a result of Europe’s clean energy transition will continue to grow rapidly in the coming years - particularly within the private markets arena.

”With a mix of diversification, resilience of cash flows and strong sustainability credentials, we believe there’s increasing potential for institutional investors.”

In 2019, MAM’s specialist Green Investments business acquired a 40% stake in the offshore wind farm. Through a partnership with Iberdrola’s ScottishPower Renewables, Macquarie supported the project through construction and into operations in 2020.

Following the project becoming fully operational, Macquarie divested a 20% stake in the offshore wind farm later that year to The Renewables Infrastructure Group.

Edward Northam, global head of core renewables at MAM Green Investments, said: “The UK has some of the best wind resources in Europe. This potential has been harnessed through landmark projects such as East Anglia One, making the UK a global leader in offshore wind.

”We are proud of the role we’ve played in supporting the construction and operation of this important project.”

Funds managed by MAM will continue to manage stakes in the Gwynt y Môr, Sheringham Shoal, Lincs, Lynn, Inner Dowsing, Rhyl Flats offshore wind farms. Macquarie Group and its partners are also supporting the development of the next generation of projects, including the 2 GW West of Orkney, 1.5GW Outer Dowsing, 1.2GW Rampion 2, and 353MW Five Estuaries offshore wind farms.

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