FIH Partners advised the Danish Pension fund PKA and KIRKBI A/S – the investment arm of the LEGO Group – in their joint acquisition of a 50% stake in the 258 MW UK offshore wind farm project Burbo Bank Extension for a total consideration of DKK 6.6bn. Each investor will obtain a 25% ownership interest in the project.Burbo Bank Extension will be constructed by DONG Energy with offshore construction works commencing in the spring 2016. The project is expected to be fully commissioned in the first half of 2017, and the purchase price is to be paid in the period 2016-2017.
Burbo Bank Extension will consist of 32 turbines and will be the first large-scale wind farm to deploy the new MHI Vestas 8.0 MW turbine. When completed Burbo Bank Extension will be able to supply CO2-free power equivalent to the annual electricity consumption of more than 230,000 households.
FIH Partners acted as exclusive financial advisor to PKA and KIRKBI A/S.
