2019-10-17
http://w3.windfair.net/wind-energy/news/32799-equinor-arkona-offshore-wind-farm-credit-suisse-energy-infrastructure-partners-stake-sale-acquisition-divestment

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Equinor Sells 25% Stake in Arkona Offshore Wind Farm

Norwegian energy company Equinor has sold 25 percent of its stake in the Arkona offshore wind farm in the German Baltic Sea to funds advised by Credit Suisse Energy Infrastructure Partners AG for a total amount of around EUR 500 million.

Image: EquinorImage: Equinor

Equinor currently holds a 50% stake in the wind farm in the German Baltic Sea. After the transaction, Equinor will retain a 25% stake. RWE Renewables (after the acquisition of E.ON Climate and Renewables) remains the operator with a 50% stake.

“This divestment demonstrates Equinor’s ability to realise value from the development of offshore wind projects. Active portfolio management through the project life cycle is an important part of our offshore wind strategy. Arkona was delivered under budget and on time and has had strong operational performance since start-up. Now the project is de-risked and in the early phase of operations, and we are pleased to welcome Credit Suisse Energy Infrastructure Partners as new partner,” says Pål Eitrheim, executive vice president in New Energy Solutions in Equinor. 

Source:
Equinor
Author:
Windfair Staff
Email:
press@windfar.net
Keywords:
Equinor, Arkona, offshore, wind farm, Credit Suisse Energy Infrastructure Partners, stake, sale, acquisition, divestment



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