GIP to buy wpd’s offshore wind business

siemens offshore wind project

Global Infrastructure Partners (GIP) is set to acquire wpd offshore, the offshore wind business of wpd AG, a leading project developer and renewables power producer  for onshore wind, offshore wind and solar.

The transaction is subject to customary regulatory approvals.

wpd offshore is a leading offshore wind platform with over 20 years of development experience, a track record of ~7 GW developed to date, and a presence in 14 European and APAC markets. wpd’s offshore team has capabilities across the entire offshore wind value chain, including greenfield development, engineering and design, procurement, financing and construction management.

wpd offshore’s portfolio includes:

Interests in 5 operating and under construction projects in Germany, France and Taiwan

>30 GW (gross) global and highly diversified offshore wind pipeline in various stages of development

Post-closing, Achim Berge Olsen, current COO of wpd and responsible for its offshore wind business, will serve as CEO of the business acquired by GIP.

“wpd will strengthen its onshore wind and solar activities in 30 countries in Europe, Asia, Chile and the US. Our operating wind and solar projects totaled 2,500 MW by end of 2021 and we will double this volume by 2024,” Bjorn Nullmeyer, CFO of wpd, said in a news statement.

“This investment builds upon GIP’s experience investing in renewables assets and offshore wind projects. wpd offshore will be able to pursue new projects and opportunities in high growth offshore wind markets,” Adebayo Ogunlesi, Chairman and Managing Partner of GIP, said.