Macquarie Asset Management has agreed to offload its stakes in eight offshore wind farms located around the UK to Equitix, an infrastructure manager and investor.
Macquarie European Infrastructure Fund 5 will sell its 50% stake in the Offshore Wind Company to funds managed by Equitix. Financial details of the deal were not disclosed.
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Equitix chief investment officer Achal Bhuwania stated: “We are pleased to be investing in this unique and diversified offshore wind portfolio which enhances our partnership with leading offshore industry partners and achieves our continued desire to make material contributions to the UK’s energy transition and net zero ambitions.
“This transaction is part of our triple defence portfolio construction strategy wherein we are building a diversified portfolio of essential infrastructure assets with long-term inflation linkage for our core funds.”
The Offshore Wind Company holds direct and indirect stakes in eight operational offshore wind farms with 2.4GW capacity.
It has a direct stake in offshore wind farms such as Rampion (400MW), Galloper (353MW) and Westermost Rough (210MW).
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By GlobalDataThe company holds indirect stakes in Gwynt y Mor (576MW), Sheringham Shoal (317MW), Lincs (270MW), Lynn and Inner Dowsing (196MW) and Rhyl Flats (90MW) offshore wind farms, all via a limited partnership share in Macquarie Green Investment Group renewable energy fund 1.
Macquarie Asset Management and its Green Investment Group will continue to manage these stakes via their renewable energy funds 1 and 2, alongside their investments in Race Bank and East Anglia One offshore wind farms.
Macquarie Asset Management managing director David Tilstone said: “These projects have played a crucial role in supporting the early transformation of the country’s energy mix and establishing the UK’s reputation as one of the world’s leading markets for offshore wind.
“We look forward to taking forward the next phase of projects to help meet the UK’s goal of 50 GW of installed offshore wind capacity by the end of this decade.”
