Swiss private equity firm Partners Group said it has agreed to sell its 20% stake in Dutch offshore windfarm Borssele III / IV to Swiss Life Asset Managers.
Borssele is a fully operational offshore windfarm located 55 kilometers from the Port of Vlissingen in the Netherlands. The windfarm is comprised of 77 turbines and benefits from a feed-in premium regime, which provides highly visible, long-term contracted cashflows. Borssele began operations in 2021. The windfarm is designed to generate 3,000 GWh of energy annually, which is enough to power approximately 825,000 Dutch households. Partners Group invested in Borssele in June 2018 as part of its thematic approach to investing in infrastructure assets that benefit from decarbonization trends.
David Daum, Managing Director, Private Infrastructure Europe, Partners Group, 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."
Borssele's other shareholders are Shell, Eneco, INPEX, and Luxcara.
Completion of the transaction is subject to regulatory approvals. Partners Group was advised by Rothschild & Co as its financial advisor and Clifford Chance LLP as its legal advisor.