Macquarie takes full control of Lynn and Inner Dowsing UK offshore windfarms – IPE Real Assets

Macquarie Asset Management is to gain full ownership of the Lynn and Inner Dowsing offshore wind farms in the UK by acquiring the remaining 39.25% stake currently held by BlackRock.

The 194MW Lynn and Inner Dowsing, located off the coast of Lincolnshire, have been operational since 2009.

Macquarie GIG Renewable Energy Fund 1 acquired its 60.75% stake in Lynn and Inner Dowsing in2016 as part of a consortium.The deal at the time involvedCentrica and EIG Global Energy Partnerssellingthe Glens of Foudland, Lynn and Inner Dowsing wind farms to the consortium which included funds managed by BlackRock, for an enterprise value of 423m (504m).

Macquarie said it intends to buy the additional stake through the Macquarie GIG Renewable Energy Fund 2 and a Macquarie Asset ManagementPrivate Wealth Fund. Financial details were undisclosed.

Jonathan Duffy, managing director at MAM Green Investments at Macquarie, said: Delivered as part of the renewables obligation scheme, Lynn and Inner Dowsing helped lay the groundwork for the UKs leadershippositions today in the energy transition and offshore wind sectors.

Ensuring the successful operation ofthese projects into the future, alongside the continued scaling-up of offshore wind capacity, will be key tomeeting the UKs energy security ambitions and we are proud to be supporting this journey.

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Macquarie takes full control of Lynn and Inner Dowsing UK offshore windfarms - IPE Real Assets