BREMEN, Germany and NEW YORK, May 6, 2022 /PRNewswire/ — Worldwide Infrastructure Associates (“GIP”), a foremost impartial infrastructure trader, and wpd AG (“wpd”), a foremost undertaking developer and impartial renewables power producer (IRPP) for onshore wind, offshore wind and solar, are happy to announce that they have signed definitive agreements for GIP to get 100% of wpd offshore GmbH (“wpd offshore”), the offshore wind enterprise of wpd. The transaction is subject to customary regulatory approvals.
wpd offshore is a main offshore wind system with around 20 years of improvement working experience, a keep track of report of ~7 GW made to date, and a existence in fourteen European and APAC marketplaces. The wpd offshore team has capabilities throughout the full offshore wind benefit chain, together with greenfield enhancement, engineering and structure, procurement, funding and construction administration. wpd offshore’s portfolio features:
- Passions in 5 running and below construction tasks in Germany, France and Taiwan
- >30 GW (gross) international and really diversified offshore wind pipeline in numerous phases of advancement
Submit-closing, Achim Berge Olsen, present COO of wpd and dependable for its offshore wind business, will serve as CEO of the company acquired by GIP.
Björn Nullmeyer, the CFO of wpd explained: “wpd was just one of the early movers in the offshore wind market place and the offshore unit prospered incredibly properly as portion of wpd team. We have had an fascinating and successful journey with the wpd offshore crew and are delighted that GIP is using a exceptional chance to unlock more probable with the prepare to establish up a world wide offshore wind participant. wpd AG will further improve its onshore wind and photo voltaic things to do in 30 countries in Europe, Asia, Chile and the US. Our functioning wind and photo voltaic projects totaled 2,500 MW by close of 2021 and we will double this quantity by 2024.”
Adebayo Ogunlesi, Chairman and Running Partner of GIP, explained: “We are thrilled to announce the acquisition of wpd’s globe-course offshore wind small business. wpd offshore has an fantastic progress keep track of document and a diversified portfolio of running, design and improvement tasks. We believe that offshore wind, just one of the swiftest growing renewables segments, will be crucial to the net zero carbon targets and energy transition goals. This investment builds upon GIP’s substantial experience investing in renewables belongings and offshore wind assignments. As a highly scalable system, wpd offshore will be able to pursue new projects and alternatives in high expansion offshore wind markets. We look forward to performing with the management workforce that has built this pretty successful organization and producing it into a single of the top offshore wind platforms in the earth.”
About Global Infrastructure Partners
GIP is a leading impartial infrastructure fund manager that helps make equity and credit card debt investments in infrastructure belongings and businesses. GIP targets investments in the strength, transportation, digital infrastructure, and h2o/squander sectors in both of those OECD and pick emerging marketplace countries. GIP’s international renewables portfolio incorporates solar, wind, hydro, and battery storage property symbolizing 15 GW of running era ability, royalty passions in more than 19 GW of operating renewable initiatives, and about 120 GW property below development or in enhancement. Headquartered in New York, GIP operates out of 10 workplaces: New York, London, Stamford (Connecticut), Sydney, Melbourne, Brisbane, Mumbai, Delhi, Singapore and Hong Kong. GIP manages c. US $81 billion for its buyers. GIP’s portfolio providers have merged annual revenues of c. US $61 billion and use c. 99,000 persons. For far more information and facts, pay a visit to www.international-infra.com.
wpd develops and operates onshore and offshore wind farms and photo voltaic parks and is actively engaged in 30 international locations in Europe, Asia, Chile and the US with the head business in Bremen. The German enterprise has currently understood wind energy projects with an output of 5,620 MW and is organizing even more projects with a total of 13,900 MW wind onshore and 2,300 MWp photo voltaic electricity. Even more information and facts can be identified on wpd’s web site at www.wpd.de
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