Partners Group joins Borssele III/IV consortium
Partners Group, one of the world’s leading private market investment managers, has signed an agreement to join the Borssele III/IV offshore wind consortium (“Blauwwind”) as an equity investor on behalf of its clients. The agreement with Partners Group further strengthens the project and its financing structure.
The agreement is the outcome of a planned assessment by consortium partners Shell, Diamond Generating Europe* and Eneco Group on how to best fund the Borssele III/IV project. Partners Group has built a strong track record of investment in offshore and onshore wind projects all over the world on behalf of its clients, most recently in Australia and Germany.
Brandon Prater, Partner, Private Infrastructure, Partners Group:
"Renewable energy continues to be a transformative trend within the infrastructure asset class and an important component in the future energy security of many countries. With the Dutch government committing to receiving 16% of its energy production from sustainable sources by 2023 as part of a National Renewable Energy Action Plan, we believe the Borssele project is both timely and critical in helping the country achieve that aim."
Keiichi Suzuki, CEO of Diamond Generating Europe (DGE):
“We are delighted to welcome Partners Group to our consortium and pleased that our innovative offshore wind project is attractive to an excellent global investment manager. This milestone helps DGE to increase its presence in the renewable energies sector, which leads to the achievement of DGE’s mission of ‘providing clean and smart energy to everyone’.”
Mark Gainsborough, Executive Vice President, New Energies at Shell:
“We have consistently called for offshore wind energy at scale in North West Europe, and want to be an active player in this. We are bringing to bear our experience with large integrated projects at scale and expertise in working offshore. Bringing in Partners Group allows us to free up capital to invest in new projects in future.”
Kees-Jan Rameau, Chief Executive Growth Officer at Eneco Group:
“It’s quite common to enhance the financing structure of a capital-intensive project like Borssele III/IV along the way. Each existing consortium partner remains equally committed to the realization of this project. Eneco has signed up for 50 percent of the future power production of Borssele III/IV. The success of this project will therefore enable Eneco to provide even more green and locally generated power to businesses and consumers in The Netherlands.”
Current shares in Borssele III/IV project
|Current share||New share|
|Shell – 40%||Partners Group – 45%|
|DGE – 30%||Shell – 20%**|
|Eneco Groep – 20%||DGE – 15%|
|Van Oord – 10%||Eneco Groep – 10%**|
|Van Oord – 10%***|
*DGE is a fully owned subsidiary of Mitsubishi Corporation, and DGE develops, constructs, and operates 5 GW power generation assets (gross) in Europe and Middle East region.
**Shell and Eneco Group will each purchase half of the renewable electricity production of Borssele III/IV once operational.
***Van Oord’s 10% shareholding remains unchanged.
About Borssele III and IV
Windfarms Borssele III & IV are expected to generate approximately 3000 GWh per annum, equivalent to the amount of electricity used by approximately 825,000 households. The windfarms will be located 22 kilometres off the coast of the province of Zeeland in The Netherlands.
Contact details for press
Phone: +41 41 784 65 26
Diamond Generating Europe
Phone: +31 (0)20 5041 590