Glennmont to buy 25% stake in Gode Wind 1 offshore windfarm

03/07/2019 09:45 Wind

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London-based fund manager Glennmont Partners has entered an agreement to acquire a 25% stake in the Gode Wind 1 offshore windfarm in Germany from Global Infrastructure Partners II (GIP II).

Glennmont Partners said that the acquisition is the first offshore wind investment to be realised from the company’s €850m Clean Energy Fund III, which achieved final close in June.

 

Gode Wind 1 is a 330MW operating offshore windfarm in the German North Sea. It is currently held in a joint venture between GIP II and Ørsted, a Danish offshore windpower company. Ørsted has a 50% stake each in the Gode Wind 1 power plant.

 

In addition to Ørsted having a 50% stake in the windfarm, the joint venture company provides operations and maintenance services, as well as a route to market for power production.

Source: power-technology.com

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