March 17 (Renewables Now) - The European Commission (EC) has cleared the acquisition of the 396-MW Merkur offshore wind farm in the German North Sea by Dutch pension fund APG and InfraRed Capital Partners.
The proposal would not raise any concerns about competition in view of the moderate market positions of the companies, the EC said on Monday. It examined the planned deal under the simplified merger review procedure.
As announced in December 2019, Germany’s Merkur Offshore GmbH will be 64%-owned by APG Asset Management NV, while UK-based InfraRed, the investment manager of The Renewables Infrastructure Group Ltd (LON:TRIG), will buy the remaining 26%. Once the sale is complete, TRIG will sell down part of the newly-acquired interest to minority co-investors managed by InfraRed and keep around 25% in Merkur.
Located some 35 km (22 miles) north of the island of Borkum, the Merkur wind farm uses 66 GE Haliade-150 6-MW offshore wind turbines that were brought online in June 2019. The power plant’s current consortium of owners includes Partners Group, DEME Concessions, GE Energy Financial Services, ADEME and a private fund managed by InfraRed Capital Partners.