Macquarie Asset Management has divested Macquarie European Infrastructure Fund 5’s 15.5% interest in the 270MW Lincs offshore wind farm in the UK to funds managed by Octopus Energy Generation.
The financial terms of the deal were not disclosed.
The offshore wind farm, which has been operating since 2013, is located in the North Sea, 8km off the east coast of England.
Macquarie had held the minority stake in the Lincs offshore wind farm since 2017. It has been now purchased by the Octopus Renewables Infrastructure Trust and Sky (ORI SCSp) funds, which are managed by Octopus Energy Generation.
Macquarie Green Investment Group Renewable Energy Fund 1, which is another fund of Macquarie, will continue to hold a 44% stake in the offshore wind farm.
Macquarie Asset Management EMEA real assets head Martin Bradley said: “The successful delivery and operation of projects like Lincs over the past decade has made the UK a world leader in the offshore wind sector.
“Investors recognise this, with this transaction a strong vote of confidence in the central role offshore wind will play in enabling the UK to reach net zero.”
For the deal, Macquarie Asset Management was advised by Macquarie Capital.
Equipped with 75 turbines, the Lincs offshore wind farm has been meeting the power requirements of 278,000 homes per year. The project uses the Siemens Gamesa 3.6 MW wind turbines, which have a rotor diameter of 120m.
Earlier this year, Macquarie Asset Management through a consortium signed a deal worth €2.5bn to acquire French solar power developer Reden Solar from InfraVia Capital Partners and Eurazeo.
