AMP Capital has made plans to sell its stake in ESVAGT, a company specializing in service operation vessels (SOV) for the offshore wind industry, to its co-investment partner 3i Infrastructure for £268 million ($356 million).
ESVAGT was acquired by 3i Infrastructure and AMP Capital in 2015. During that time period, ESVAGT delivered six new SOVs and entered into a joint venture with vessel management, owner, and supply chain logistics services company Crowley to support the offshore wind energy market.
This transaction, scheduled to take place in the first quarter of 2022, would result in 3i Infrastructure holding 100 percent of the equity in ESVAGT.
“ESVAGT’s transition into a market leader in European offshore wind has been a major achievement,” said Richard Laing, chair of 3i Infrastructure. “We believe that it is well-placed to benefit from continuing attractive growth prospects in the wind sector, and we are delighted to be acquiring 100 percent of