Nuveen Infrastructure, a fund manager investing in clean energy, announced an investment which will see them acquire a 15% stake in 731.5MW Borssele III/IV offshore wind farm from Partners Group, a leading global private markets firm, acting on behalf of its clients.
The investment is the second from the Nuveen European Core Renewable Infrastructure (NECRI) strategy, launched in September 2022 in partnership with Dutch investor MN, on behalf of its client PMT. NECRI is an evergreen strategy investing in renewable projects on brownfield sites across continental Europe, including the Netherlands, the UK, France, Spain, Italy, Scandinavia and Germany.
The transaction will see the fund acquire 15% of the 731.5MW project located 22 km off the Zeeland province shore in the Netherlands, which has been in operations since 4Q21. The farm consists of 77 state-of-the-art Vestas V164-9.5 MW wind turbine generators and benefits from a 15-year SDE+ subsidy from the Dutch Government.
“We’re delighted to complete our second investment from the NECRI strategy, and to be investing in the Netherlands. The Dutch offshore wind market is a key target region for our business and Borssele III/IV fits well with our brownfield renewable infrastructure investment strategy. Partners Group have extensive experience in the renewable energy sector globally and we’re proud to work with them on this deal,” said Joost Bergsma, CEO at Glennmont Partners from Nuveen. “We look forward to continuing the strategy, in partnership with MN, building on this success and seizing on investment opportunities across Europe.”