Macquarie buys 49.9% share in German offshore wind farm

Photo courtesy The Hindu

Macquarie Capital is acquiring 49.9 percent shares in German offshore wind farm EnBW Baltic 2.

The project will include 80 wind power turbines having a total capacity of 288 megawatts.

The transaction has been finalized at a cost of €720 million ($1.05 billion) which will also take care of full commissioning of the farm.

EnBW Energie will be responsible for the management and maintenance of the farm.

The project is being constructed 32 km north of the Baltic island of Rugen, where 34 wind power turbines have been installed.

Photo courtesy The Hindu
Photo courtesy The Hindu

Macquarie is planning to make further clean energy investments by exploiting Germany’s position as one of the world’s leaders in renewable energy adoption.

“Given the strong regulatory renewable energy regime, we see Germany as a key market for this type of investment going forward,” said Mark Dooley, head of infrastructure, utilities and renewables, Macquarie Capital, Europe.

In addition, Macquarie is keen on investing another £150 million ($281 million) to help fund UK solar projects and finance for a waste-to-energy project in Dublin.

Earlier, Macquarie has initiated various energy sector deals like securing the Spanish and Portuguese businesses of Germany’s E.ON for €2.5 billion.

Meanwhile, EnBW has also launched a restructuring program at an investment of €7 billion, including expansion of wind energy.

Sabeena Wahid