Greencoat Renewables has plans to acquire a 22.5 percent stake in the Butendiek offshore wind farm, located in Germany’s exclusive economic zone in the North Sea.
The seller was Marguerite Pantheon, a pan-European infrastructure fund manager focused on investments that contribute to sustainable economic growth and climate protection. Financial terms were not disclosed.
The construction of the Butendiek offshore wind farm began in early 2014 and was commissioned in mid-2015. Butendiek consists of 80 turbines with 3.6 megawatts each, resulting in a total capacity of 288 megawatts.
“We are pleased to make this acquisition, which consolidates Greencoat Renewables’ market position in the German offshore wind sector,” said Bertrand Gautier, investment manager at Greencoat Renewables. “The acquisition of Butendiek demonstrates Greencoat Renewables’ commitment to the European offshore wind sector, which plays an increasing role in providing cost-competitive,
