WPD’s offshore wind business has been acquired by fund manager Global Infrastructure Partners, which includes five operational and under construction assets in Germany, France, and Taiwan, as well as a development pipeline of over 30GW.
The transaction’s price has not been disclosed.
WPD Offshore has over 20 years of development experience, has developed over 7GW to date, and has a presence in 14 European and Asian markets.
Greenfield development, engineering and design, procurement, financing, and construction management are among the company’s competencies.
The purchase is subject to typical regulatory approvals, and once completed, Achim Berge Olsen, WPD’s chief operating officer and head of its offshore wind unit, will lead the GIP-acquired company.
The purchase is subject to typical regulatory approvals, and once completed, Achim Berge Olsen, WPD’s chief operating officer and head of its offshore wind unit, will lead the GIP-acquired company.
Bjorn Nullmeyer, WPD’s chief financial officer, remarked “WPD was one of the early movers in the offshore wind market and the offshore unit prospered very well as part of WPD group.”
“We have had an exciting and successful journey with the WPD Offshore team and are delighted that GIP is taking a unique opportunity to unlock further potential with the plan to build up a global offshore wind player.”
“WPD will further strengthen its onshore wind and solar activities in 30 countries in Europe, Asia, Chile and the US. Our operating wind and solar projects totaled 2500MW by end of 2021 and we will double this volume by 2024.”
Adebayo Ogunlesi, chairman and managing partner of GIP, said “We are excited to announce the acquisition of WPD’s world-class offshore wind business.”
“WPD Offshore has an exceptional development track record and a diversified portfolio of operating, construction and development projects.”
“We believe offshore wind, one of the fastest growing renewables segments, will be critical to the net zero carbon targets and energy transition goals.”
“This investment builds upon GIP’s extensive experience investing in renewables assets and offshore wind projects.”
“As a highly scalable platform, WPD Offshore will be able to pursue new projects and opportunities in high growth offshore wind markets.”
“We look forward to working with the management team that has built this very successful business and developing it into one of the leading offshore wind platforms in the world.”
