A consortium comprising of funds managed and/or advised by Partners Group (50%), InfraRed Capital Partners (25%), DEME Concessions (12.5%), GE Energy Financial Services (6.25%) and ADEME, acting on behalf of France “Investments for the Future” programme (6.25%) announced today that it has signed an agreement to sell 100% of Merkur Offshore GmbH, one of the largest operational wind farms in Germany, to APG, the Dutch pension investor and The Renewables Infrastructure Group Limited (“TRIG”) , the FTSE 250 London-listed investment company advised by InfraRed Capital Partners.
Merkur Offshore GmbH is a Hamburg-based company which has been responsible for the planning and construction of a 396-MW offshore wind farm located c. 45 kilometres north of Borkum Island in the German North Sea. The project comprising of 66 General Electric (“GE”) Haliade-150 6-MW offshore wind turbines was fully commissioned in June 2019. The project benefits from a guaranteed Feed-in-Tariff until 2033 and has a 10-year O&M agreement with GE Renewable Energy for the service and maintenance of the turbines.
The transaction is subject to customary regulatory approvals and consent from lenders, and is expected to close in H1 2020.
BofA Securities acted as exclusive financial adviser to the selling consortium.
About InfraRed
InfraRed Capital Partners is a global investment manager focused on infrastructure and real estate. It operates worldwide from offices in Sydney, London, Hong Kong, New York, Seoul and Mexico City. With around 190 professionals, it manages US$12bn of equity capital in multiple private and listed funds, primarily for institutional investors across the globe. InfraRed Capital Partners is authorised and regulated in the UK by the Financial Conduct Authority.
InfraRed implements best-in-class practices to underpin asset management and investment decisions, promotes ethical behaviour and has established community engagement initiatives to support good causes in the wider community. InfraRed is a signatory of the Principles of Responsible Investment and has been awarded A+ score in 2019 PRI assessment.
