Macquarie Asset Management To Sell Stakes In 8 UK Wind Farms

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Australia’s Macquarie Asset Management has agreed to sell stakes in eight offshore wind farms around the United Kingdom to infrastructure manager and investor, Equitix.

According to the agreement, Macquarie European Infrastructure Fund 5’s 50 per cent stake in Offshore Wind Company sold to funds managed by the UK-headquartered investment manager. Offshore Wind Company holds various direct and indirect stakes in a 2.4 GW portfolio comprised of eight operational offshore wind farms.

Macquarie calls it one of the world’s largest and diversified offshore wind portfolios. The terms of the transaction are yet to be disclosed.

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The portfolio includes direct stakes held in the 400 MW Rampion, 353 MW Galloper, and 210 MW Westermost Rough offshore wind farms.

Offshore Wind Company also owns stakes in the 576 MW Gwynt y Mor, 317 MW Sheringham Shoal, 270 MW Lincs, 196 MW Lynn and Inner Dowsing, and 90 MW Rhyl Flats offshore wind farms via a limited partnership share in Macquarie Green Investment Group Renewable Energy Fund 1.

David Tilstone, MD, Macquarie Asset Management, said, “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.”

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Achal Bhuwania, CIO, Equitix, stated, “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.”

Following this transaction, Macquarie Asset Management and its Green Investment Group will continue to manage stakes in Gwynt y Môr, Sheringham Shoal, Lincs, Lynn and Inner Dowsing, and Rhyl Flats via Macquarie Green Investment Group Renewable Energy Funds 1 and 2 alongside its investments in the 573 MW Race Bank and 714 MW East Anglia One offshore wind farms.

Macquarie and its partners are also supporting the development of the 2 GW West of Orkney, 1.5 GW Outer Dowsing, 1.2 GW Rampion 2, and 353 MW Five Estuaries offshore wind projects.1

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Last year, Macquarie Asset Management led consortium acquired France’s independent power producer (IPP) Reden Solar for an enterprise value of $2.7 billion.