Under the deal, TRIG will purchase 36% of the stake and the remaining 64% in the Merkur Offshore will be acquired by APG
Image: TRIG and APG to acquire stake in Merkur offshore windfarm. Photo: courtesy of Bente Jønsson from Pixabay.
UK-based investment company The Renewables Infrastructure Group (TRIG) and Dutch pension investor APG have agreed to acquire 100% stake in Merkur offshore windfarm in North Sea for an undisclosed amount.
Under the deal, TRIG will purchase 36% of the stake and the remaining 64% in the Merkur Offshore will be acquired by APG.
Subjected to lender consent and competition clearance, the deal is expected to be completed in the first half of 2020.
The project is being acquired from a consortium of a consortium of Partners Group, DEME Concessions, GE Energy Financial Services, ADEME and a private fund separately managed by InfraRed.
Merkur offshore windfarm is equipped with 66 GE Haliade-150 6MW offshore wind turbines
TRIG chairman Helen Mahy said: “The Board of TRIG is delighted to announce the Company’s third offshore wind investment and our second investment in Germany.
“We are pleased to be growing our presence in the European offshore wind market which is making an increasingly important contribution to the decarbonisation of energy usage.”
The offshore project is equipped with 66 GE Haliade-150 6MW offshore wind turbines, which are capable of supplying green energy to about 500,000 households.
The facility, which commenced operations in June 2019, benefits from a Feed-in-Tariff until 2033.
Under a 10-year O&M agreement, GE Renewable Energy will provide service and maintenance for the turbines.
Partners Group Private Infrastructure Europe senior vice president David Daum said: “We are very proud to have supported Merkur through its key value creation period, from development project to fully operational core asset.
“Renewable energy not only continues to be a transformative trend within the infrastructure asset class and an important component of Europe’s future energy security, but it is also a key focus of Partners Group’s infrastructure investment strategy.”
In August this year, Partners Group invested in the 244MW Bango Wind Farm (Bango) in the state of New South Wales (NSW), Australia.