Global Infrastructure Partners (GIP), a US-based infrastructure investor, has agreed to purchase wpd offshore, the German renewable project developer’s offshore wind company. wpd offshore wind has constructed 7 GW of capacity and commenced operations in fourteen European and Asia-Pacific (APAC) regions since its inception. The company has stakes in five assets in Germany, France, and Taiwan, which are either operational or under construction.
It also has a development pipeline with a total capacity of more than 30 GW. The financial details of the acquisition have not been disclosed. The deal’s completion is subject to customary regulatory approvals. Once it has closed, wpd chief operating officer will serve as CEO of wpd offshore wind. wpd, based in Bremen, constructs and operates onshore and offshore wind farms, as well as solar parks, in 28 countries across the world.
In February 2022, wpd announced plans to build two wind energy projects in the Romanian sector of the Black Sea with a combined capacity of 1.9 GW. Two separate project firms have already been formed to plan and build two wind farms off Romania’s Black Sea coast: the 500 MW Black Sea 1 and the 1.4 GW Black Sea 2.
REGlobal’s Views: This move by GIP comes at a time when offshore wind projects have become highly sought after investments in Europe, which is focusing on enhancing its energy security and accelerating its energy transition.