Back- A 22.5% stake to be sold to Greencoat Renewables PLC
- Located in the North Sea, Butendiek has a total capacity of 288 MW
- Butendiek was one of Marguerite’s first investments in 2013
Marguerite Pantheon SCSp, a bespoke investment vehicle managed by Marguerite and in which the sole investor is Pantheon, the specialist global private markets investor, has agreed to sell its 22.5% stake in the Butendiek offshore wind farm in Germany to Greencoat Renewables PLC (Ireland), a company listed on the Euronext Dublin Market. The transaction is subject to regulatory approval and is expected to close in Q1 2023.
Developed by wpd, the Butendiek offshore wind farm is located in Germany’s exclusive economic zone in the North Sea, 32km west of the island of Sylt, and consists of 80 Siemens Gamesa 3.6 MW turbines, which cover the annual electricity consumption of approximately 370,000 households. The project has been operational since 2015.
Michael Dedieu, Managing Partner at Marguerite and chairman of the Butendiek board, commented:
“Marguerite, a pioneer in offshore wind investment, has been instrumental since the late development phase of the Butendiek in 2012 in putting together a strong group of investors to successfully implement the project and get it through the construction phase and the first seven years of operation.
This project provides significant benefits towards German/EU goals of CO2 emissions reduction and security of electricity supply. This transaction successfully demonstrates our strategy of working alongside experienced partners and actively managing high-quality and sustainable infrastructure assets to deliver attractive returns to our investors”.