EnBW sells 49.89% share for 288MW German offshore wind project to Macquarie

Energie Baden-Württember (EnBW) has sold 49.89% stake of its 288MW German Baltic 2 offshore wind project to Macquarie Capital for approximately €720m.

Baltic 2 wind farm is presently being constructed at a 32km distance to the north of the Baltic island Rügen.

EnBW will retain its remaining stake in the project, which will generate around 1,200GWh of power in a year.

34 out of 80 wind turbines from Siemens have already been installed in the facility, which is likely to produce sufficient power for around 340,000 households upon completion.

Macquarie Capital Europe head of infrastructure, utilities and renewable Mark Dooley said: "Macquarie’s strong balance sheet has allowed us to actively identify and invest in projects across Europe.

"Given the strong regulatory renewable energy regime, we see Germany as a key market for this type of investment going forward."
EnBW chief financial officer Thomas Kusterer said: "EnBW has now successfully implemented its second participation model in the area of offshore wind energy. With deep experience in infrastructure, Macquarie Capital is the right partner and investor for such an ambitious project."

EnBW plans to spend more than €7bn for strategic restructuring of its activities in the future. According to its 2020 strategy, the energy utility firm intends to invest €3.5bn for expansion of its wind energy portfolio and another €3bn for its grid business.