Baar-Zug, Switzerland; 19 September 2023
- The transaction highlights strong demand for high-quality infrastructure assets
- Partners Group sold a 20% stake to Swiss Life Asset Managers in 2022 and then 15% to funds managed by Nuveen Infrastructure earlier this year
- Partners Group invested in 2018 as part of its next-generation thematic approach to investing in clean power infrastructure and transformed the windfarm through hands-on management of its construction through to full operational status
Partners Group, a leading global private markets firm, acting on behalf of its clients, has completed its exit from 731.5 MW Dutch offshore windfarm Borssele III / IV ("Borssele") by agreeing to sell its final 10% stake to Octopus Energy Generation, one of Europe's largest renewables investors.
Following completion of the latest stake sale, Partners Group will have fully exited from the original 45% stake it acquired in June 2018. Partners Group sold a 20% stake to Swiss Life Asset Managers in November 2022 and 15% to funds managed by Nuveen Infrastructure in July 2023.
Borssele is a fully operational windfarm located 55 kilometers from the Port of Vlissingen in the Netherlands. The windfarm benefits from a feed-in premium regime backed by the Dutch government, which provides highly visible, long-term contracted cashflows. Borssele began operations in 2021. The windfarm is designed to generate 3,000 GWh of energy annually, which is enough to power approximately 825,000 Dutch households.
Partners Group invested in Borssele as part of its next-generation thematic approach to investing in clean power infrastructure. During its holding period, Partners Group transformed Borssele through hands-on management of its construction through to full operational status and successfully implemented several value creation initiatives, alongside other shareholders.
David Daum, Managing Director, Co-Head Private Infrastructure Europe, Partners Group, says: "The sale of Partners Group’s remaining stake in Borssele marks the end of our five-year journey with the project. As a fully operational windfarm, Borssele is positioned to make a meaningful contribution towards decarbonization goals in the Netherlands. We are pleased to hand Borssele over to the new shareholder group following a transaction that highlights continued strong demand for high quality infrastructure assets."
After the sale of the final 10% stake is completed, Borssele's new shareholder group will include Shell, Eneco, INPEX, Luxcara, Swiss Life Asset Managers, Glennmont Partners from Nuveen, and Octopus Energy Generation. Completion of the sale to Octopus Energy Generation is subject to customary regulatory approvals. Partners Group was advised by Rothschild & Co as its financial advisor and Clifford Chance LLP as its legal advisor.
Partners Group's Private Infrastructure business has USD 22 billion in assets under management.