Nuveen Infrastructure, a global fund manager investing in clean energy, has acquired a 15% stake in the 731.5 MW Borssele III & IV offshore wind farm from Partners Group, a private markets firm.
This investment marks the second in the Nuveen European Core Renewable Infrastructure (NECRI) strategy, launched in September 2022 in partnership with Dutch investor MN, on behalf of its client PMT. NECRI is an evergreen plan to invest in renewable projects on brownfield sites across continental Europe, including the Netherlands, the United Kingdom, France, Spain, Italy, the Nordics, Germany and the other Benelux countries.
The project, located 14 miles offshore the Zeeland province in the Netherlands, has been in operations since the fourth quarter of 2021. The farm consists of 77 Vestas V164-9.5 MW wind turbine generators and benefits from a 15-year SDE+ subsidy from the Dutch government.
The acquisition combines Nuveen infrastructure’s 15-year track record of investing in renewable energy with MN’s experience in asset management and socially responsible investment in the Netherlands and beyond.
Photo by P. Hsuan Wang from Pexels.
