Partners Group has completed its exit from Dutch offshore wind farm Borssele III/IV with the sale of its final 10% stake to Octopus Energy’s generation arm.
Octopus Energy Generation has invested an unspecified amount, on behalf of its Sky fund, to gain a share in the 731.5MW wind farm which has been operational since 2021.
The deal once completed will give Octopus Energy a stake alongside a group of shareholders including Shell, Eneco, INPEX, Luxcara, Swiss Life Asset Managers, Glennmont Partners from Nuveen.
Borssele is located 55km from the Port of Vlissingen in the Netherlands. The wind farm benefits from a feed-in premium regime backed by the Dutch government, which provides highly visible, long-term contracted cashflows.
Octopus Energy first entered the Dutch renewable energy market last year with the acquisition of the Borssele V offshore wind farm.
Alex Brierley, co-head of Octopus Energy Generation’s fund management team said: “Investing in one of Europe’s largest wind farms in the Netherlands is a really exciting milestone as we only entered the Dutch renewables market last year.
“We’ve got big ambitions to supercharge the green energy transition globally. Offshore wind farms like these are boosting energy security and creating a more sustainable energy system for everyone.”
Following the completion of the transaction, Partners Group will have fully exited from the original 45% stake it acquired in June 2018. The global private markets firm then sold a 20% stake to Swiss Life Asset Managers in November 2022 and 15% to funds managed by Nuveen Infrastructure in July this year.
David Daum, managing director and co-head of private infrastructure Europe at Partners Group, said: “The sale of Partners Group’s remaining stake in Borssele marks the end of our five-year journey with the project.
”As a fully operational windfarm, Borssele is positioned to make a meaningful contribution towards decarbonisation goals in the Netherlands.”
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