On behalf of its investors, Partners Group has agreed to sell a 20 percent stake in the Dutch offshore wind farm Borssele 3&4 to Swiss Life Asset Managers.
In the Netherlands, 55 kilometres away from the Port of Vlissingen, is the offshore wind farm known as Borssele.
The 77 turbine wind farm enjoys a feed-in premium policy, which offers highly visible, long-term contracted cashflows. Operations for Borssele started in 2021.
The wind farm is intended to produce 3,000 GWh of energy per year, which is sufficient to power about 825,000 Dutch homes.
As part of its thematic strategy to investing in infrastructure assets that profit from decarbonization trends, Partners Group purchased Borssele in June 2018.
Partners Group said that, along with other shareholders, during its holding tenure it had revolutionised Borssele by putting into practise a number of value creation strategies.
This entailed making sure the wind farm’s building was finished on time and under budget.
Managing Director, Private Infrastructure Europe, Partners Group, David Daum, said “Through our thematic investing approach, we identified offshore wind at the right time as a key contributor towards achieving global net-zero goals in a high growth market.”
“We invested in Borssele before construction had started, contributed to the set-up of an independent organisation to handle daily operations, and guided the project through difficult conditions during the COVID pandemic to full operational status. Borssele now generates the equivalent of 2.3% of Dutch electricity demand.”
Shell, Eneco, INPEX, and Luxcara are among the other investors in Borssele.
Over 130 investments have been made by Partners Group’s Private Infrastructure division in 18 different countries, totaling USD 21 billion in assets under management.
The deal must get typical regulatory clearances in order to be completed.