Macquarie taking control of two UK North Sea wind projects

Macquarie Asset Management plans to acquire full ownership of two UK southern North Sea wind farms using funds managed by BlackRock.

Macquarie Asset Management plans to acquire full ownership of two UK southern North Sea wind farms using funds managed by BlackRock.

Lynn and Inner Dowsing, off the coast of Lincolnshire, have been in service since 2009, with a total installed capacity of around 194 MW.

Macquarie GIG Renewable Energy Fund 1 acquired a 60.75% stake in both developments in 2016. Under the new planned transaction, via Macquarie GIG Renewable Energy Fund 2 and a Macquarie Asset Management Private Wealth Fund, the shareholding would rise to 100%.

Elsewhere in the UK, funds controlled by Macquarie Asset Management manage stakes in the Gwynt y Môr, Sheringham Shoal, Rhyl Flats and East Anglia One offshore wind farms.

In addition, Macquarie Group and its partners are supporting the current 2-GW West of Orkney, 1.5-GW Outer Dowsing, 1.2-GW Rampion 2, and 353-MW Five Estuaries offshore wind developments.

Read the latest issue of the OGV Energy magazine HERE