German offshore wind project sold to UK equity firm for $1.3bn

An unnamed British private equity firm has paid more than $1.3bn for an offshore wind project in the North Sea.

German developer Windreich AG made the sale but is retained as builder and operator of the 210 MW Deutsche Bucht venure.

The buyer is an “Anglo-Saxon financial investor,” the company announced in a statement, without elaborating.

The 42-turbine project is located 94 km north of the island of Borkum and has a grid connection agreement and will use turbines made by Areva (Euronext:à‚ CEI).

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