FIH Partners advises CIP on the acquisition of a minority stake in four German operational offshore converter systems

Acquisition of of a minority stake in four operational offshore converter systems
Transaction:
Acquisitions
Date:
Apr 2020
Deal Value:
Undisclosed
Process:
Exclusive process
Industry:
Energy and Infrastructure

FIH Partners advised Copenhagen Infrastructure Partners (“CIP”), through the newly established fund Copenhagen Artemis II K/S, on its acquisition of a minority stake in four operational offshore converter systems from Mitsubishi Corporation.

CIP has expanded its partnership with TenneT (the Dutch Transmission System Operator) via CI Artemis II K/S’ acquisition of a minority stake in an operational portfolio of four HVDC offshore converter systems. The assets are all located in the German North Sea and comprise a total of ca. 2.8 GW transmission capacity.

The portfolio consists of BorWin1, BorWin2, HelWin2 and DolWin2 converter stations which were the first HVDC systems to connect offshore wind farms to the grid in Germany. All assets have reached commercial operations with some smaller construction ongoing to connect further wind farms.

The investment is subject to the same regulatory framework as the investment into DolWin3 by CI Artemis K/S in 2014.

FIH Partners acted as exclusive financial advisor to CIP.