Macquarie Asset Management has announced that it has reached an agreement to sell its 50% stake in Offshore Wind Company, which holds direct and indirect stakes in a portfolio of eight operational offshore wind farms in the UK, to Equitix, an infrastructure manager and investor based in the UK.
The sale includes stakes in some of the UK's largest and most diversified offshore wind farms, including Rampion, Galloper, and Westermost Rough, with a total capacity of 2.4 GW. These projects have played a crucial role in establishing the UK's reputation as a leading market for offshore wind and supporting the country's energy mix transformation.
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According to David Tilstone, Managing Director at Macquarie Asset Management, “We look forward to taking forward the next phase of projects to help meet the UK's goal of 50GW of installed offshore wind capacity by the end of this decade.”
Macquarie Asset Management will continue to manage its stakes in other offshore wind farms via its Green Investment Group Renewable Energy Funds 1 and 2, as well as supporting the development of several new projects, including West of Orkney, Outer Dowsing, Rampion 2, and Five Estuaries.
The sale of the stakes in the offshore wind farms to Equitix represents a significant milestone for Macquarie Asset Management, as it continues to build its presence in the UK's growing offshore wind market. It also highlights the increasing interest from infrastructure investors in the sector, as the UK government aims to achieve its ambitious target of generating 40GW of offshore wind power by 2030.
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“We are pleased to be acquiring these high-quality, long-term assets on behalf of our investors and look forward to working with Macquarie to support the growth of the UK's offshore wind sector,” said Geoff Jackson, Chief Investment Officer at Equitix.
The transaction is subject to regulatory approvals and is expected to be completed in the second half of 2023.
