Glennmont signs agreement to acquire stake in 330 MW Gode Wind 1 offshore project in Germany

Glennmont Partners has entered into an agreement to acquire a 25% stake in the Gode Wind 1 Offshore Wind Farm in Germany from current 50% owner Global Infrastructure Partners II, a fund managed by Global Infrastructure Partners.

Gode Wind 1 is a 330 MW operating offshore wind farm in the German North Sea, currently being held in a 50/50 joint-venture between GIP II and Ørsted. In addition to Ørsted’s 50% ownership in the wind farm, it provides operations and maintenance services and a route to market for the power production.

The transaction is subject to approval by the competition authorities and is expected to be completed in Q3 2019.

The announcement follows The Renewables Infrastructure Group Limited (TRIG), a London-listed investment company advised by InfraRed Capital Partners, announcing recently that it has agreed to acquire GIP’s remaining 25% stake in the project. Following Glennmont’s acquisition the wind farm will be held by Ørsted (50%), TRIG (25%, subject to completion), and Glennmont (25%).