Merkur Offshore, Germany
Merkur Offshore is a construction-ready offshore wind farm development located approximately 50km off the German coast. The project uses 66 General Electric turbines with a total capacity of around 400MW – enough clean energy to power 500,000 households.
We invested in the construction of Merkur Offshore in August 2016 on behalf of our clients, as the largest shareholder in a consortium of investors. The project has secured grid connectivity and construction commenced in mid-2017, with completion scheduled for mid-2019. Once constructed, Merkur Offshore will benefit from the German offshore feed-in-tariff.
High Capacity Metro Trains, Australia
The High Capacity Metro Trains project will design and deliver 65 trains to the State of Victoria as part of its 10-year Rolling Stock Strategy. All 65 trains are anticipated to be rolling out as a dedicated fleet prior to the opening of Melbourne's Metro Tunnel.
We invested in the project in November 2016, together with our partners in the Evolution Rail consortium. The project will be delivered jointly by industrial partners Downer Group and CRRC, with the first trains due to come into service in mid-2019. Downer Group will then maintain the trains for 30 years.
Raven is a new-build midstream processing facility to be located in Baytown, Texas. The state-of-the-art facility will use proven and clean technology to process ethylene, a readily available derivative of natural gas, into Butene-1, which is used as a critical input in the manufacture of polyethylene and a variety of other products.
We invested in the construction of Raven in December 2016 on behalf of our clients. Site preparation activities have already begun, with the completion of construction and start of commercial operations currently scheduled for 2018. Long-term, fee-based off-take contracts have been signed with several major petrochemical companies for all of Raven's initial production capacity.
Ararat and Sapphire Wind Farms, Australia
Ararat and Sapphire Wind Farms are two wind farm developments located in the Australian states of Victoria and New South Wales, respectively. The projects have a combined capacity of over 500MW, contributing towards the Australian government's target of having 20% of the country's electricity generation derived from renewable sources by 2020.
We invested in the development of Ararat Wind Farm in June 2015 on behalf of our clients. Construction commenced immediately and was completed ahead of schedule. In July 2017, Ararat held its official opening ceremony and is now fully operational.
We invested in Sapphire Wind Farm in October 2016 on behalf of our clients. The project has already secured a 20-year Power Purchase Agreement for 100MW of its capacity with the AAA-rated Australian Capital Territory Government and is scheduled for completion by mid-2018.
Seabras-1, US and Brazil
Seabras-1 is the first direct subsea fiber optic cable between New York, US, and São Paulo, Brazil. It uses next-generation coherent technology to deliver high-capacity and low latency telecommunications for one of the fastest-growing transoceanic routes in the world, offering point-to-point bandwidth and connectivity services between New York and São Paulo.
In December 2015, Seabras-1 achieved financial close and construction was commenced. Partners Group provided all of the equity financing for the project, on behalf of its clients. The Seabras-1 cable network was developed by Seaborn Networks and became operational in September 2017.