Partners Group has agreed to sell its 504MW subsea Greenlink Interconnector, which connects Great Britain and Ireland, to Baltic Cable AB and Equitix. The transaction values the project at over €1 billion.
Partners Group originally acquired a controlling stake in Greenlink in 2019 before taking full ownership in 2021. Since then, the company has overseen significant developments, including the financial close and construction of the interconnector, which reached initial commercial operations on schedule in early 2025.
Greenlink, Europe’s first project-financed interconnector, consists of two converter stations and two high-voltage cables running 190 kilometers under the Irish Sea. The infrastructure connects National Grid’s substation in Pembrokeshire, Wales, to EirGrid’s Great Island substation in County Wexford, Ireland.
The interconnector is seen as a critical development in both the energy transition and grid stability, according to Partners Group. It is designed to improve the integration of renewable energy technologies in both Great Britain and Ireland, supporting the growth of clean energy across the two countries. It also enhances energy security by diversifying electricity sources, adding import and export capacity, and providing balancing services for the national grids.
“Greenlink is a critical infrastructure asset that operates across two important themes, the energy transition and grid stability,” said Carsten Koenig, Managing Director for Infrastructure Europe at Partners Group. “The Company has clear downside protection, as well as the potential to benefit from the development of future large-scale renewable projects, which will increase the available supply between these markets.”
Padraig McManus, Chairman of the Board at Greenlink, praised the role of Partners Group in bringing the project to fruition, stating, “Taking a project of this magnitude from financing through construction to full operations requires a committed owner. Partners Group’s entrepreneurial governance model has been essential for delivering Greenlink to operations on time. We are pleased to see the Company enter its next phase under the ownership of Baltic Cable and Equitix.”
The sale marks a significant milestone for Greenlink, as it transitions to new ownership while continuing to play a key role in the energy landscape of both the UK and Ireland.
