Marguerite Pantheon, through its bespoke investment vehicle, has finalized the sale of its 10% stake in the 325MW Belgian C-Power offshore wind farm located on Thornton Bank, off the Belgian coast. The divestment was completed through a transaction with co-shareholders involved in the development, with the deal being signed and closed on February 2, 2024.
Situated in Belgium's exclusive economic zone approximately 28 kilometers north of the Belgian coast, the C-Power offshore wind farm comprises six 5MW turbines and 48 6.15MW Senvion turbines. The project, which commenced operations in stages between 2009 and 2013, marked Marguerite's initial investment in 2011.
Commenting on the transaction, Marguerite Pantheon affirmed its commitment to strategic investment decisions, stating, “We are pleased to have successfully concluded the sale of our stake in the Belgian C-Power offshore wind farm. This divestment aligns with our investment strategy and allows us to optimize our portfolio in line with evolving market dynamics.”
Marguerite Pantheon operates as a specialized investment vehicle managed by Marguerite, with Pantheon, a prominent global private markets investor, serving as the sole investor. The divestment reflects Marguerite Pantheon's ongoing evaluation of investment opportunities in the renewable energy sector and its commitment to maximizing returns for stakeholders.
The completion of the transaction underscores the fluid nature of investment portfolios in the renewable energy landscape, as stakeholders adapt to changing market conditions and explore strategic divestment opportunities.