FIH Partners advises KIRKBI Invest A/S (“KIRKBI”) and William Demant Invest A/S (“William Demant Invest”) on the divestment of their 50% ownership stake in Borkum Riffgrund 1 offshore wind farm to Greencoat Renewables PLC (“GRP”). The 50% ownership stake is acquired by GRP as KIRKBI (31.5%) and William Demant Invest (18.5%) sell their existing shares.
Borkum Riffgrund 1 is located in Germany’s exclusive economic zone in the North Sea and consists of 78 SGRE 4.0MW turbines that have been operational since 2015. The wind farm was developed and constructed by Orsted who will remain as 50% owner and continue to provide operation, maintenance and management services to the wind farm under a long-term contract.
The transaction is subject to regulatory clearance and is expected to close in Q2 2022.
FIH Partners acted as exclusive financial advisor to KIRKBI and William Demant Invest on the transaction.