Swiss Life Asset Managers is buying a 20% stake in a 731.5MW offshore wind park in the North Sea from Partners Group.
Swiss Life Asset Managers is acquiring the minority stake in Borssele III & IV in the Netherlands on behalf of its investors for an undisclosed sum.
Partners Group, on behalf of its clients, acquired a 45% stake in Borssele III & IV in June 2018. The Dutch offshore wind farm’s other shareholders are energy and petrochemical company Shell, Dutch utility Eneco, Japanese energy firm Inpex and renewables investor Luxcara.
Borssele began operations in 2021. The fully operational offshore wind park, which benefits from a feed-in premium regime, is located 55km from the Port of Vlissingen.
Marc Schürch, the head of international renewable energy at Swiss Life Asset Managers, said: “We are delighted to have added Borssele III & IV to our fund portfolio.
“Offshore wind is a key technology for the European energy transition and a strong pillar in our investment strategy. Our investors will be able to benefit from stable cashflows, protected by a well-designed Dutch subsidy scheme.”
David Daum, managing director, private infrastructure Europe at 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.”
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