Macquarie Asset Management announced on Wednesday its intention to fully acquire the 194-MW Lynn and Inner Dowsing offshore wind farms in England. The deal involves purchasing the 39.25% stake it does not already own from funds managed by US investment giant BlackRock Inc (NYSE: BLK).
The acquisition will be executed through the Macquarie GIG Renewable Energy Fund 2 and a Macquarie Asset Management Private Wealth Fund. Macquarie GIG Renewable Energy Fund 1, which currently holds a 60.75% stake in the wind farms, acquired its share in 2016.
The Lynn and Inner Dowsing offshore wind farms, located off the coast of Lincolnshire, have been operational since 2009 and collectively generate enough electricity to power over 160,000 British homes annually.
“Ensuring the successful operation of these projects into the future, alongside the continued scaling-up of offshore wind capacity, will be key to meeting the UK's energy security ambitions and we are proud to be supporting this journey,” said Jonathan Duffy, managing director at MAM Green Investments.
Macquarie, together with its partners, is also developing several other offshore wind projects in British waters, including the 2-GW West of Orkney, 1.5-GW Outer Dowsing, 1.2-GW Rampion 2, and 353-MW Five Estuaries.
