Northland Power divests 49% stake in the Nordseecluster Offshore Wind Projects
Date
May 26, 2023
Type
M&A Transactions
Subtype
Transaction agreement announced
Countries
Germany
Subsectors
Offshore Wind
Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Northland Power Inc. has announced the sale of its 49% ownership stake in the Nordseecluster offshore wind portfolio in Germany to RWE Offshore Wind GmbH for a cash consideration of approximately EUR35 million (US$37.5 million).
With this transaction, RWE will now have full ownership of the projects, including Nordsee Two, Nordsee Three, Delta Nordsee, and Godewind.
Despite the sale, Northland Power remains focused on its growth trajectory and renewable energy development. The company is a power producer dedicated to developing, building, owning, and operating clean and green global power infrastructure assets in Asia, Europe, Latin America, North America, and other selected global jurisdictions.
