China Yangtze Power and China Three Gorges Corporation have teamed up to buy a majority stake in WindMW GmbH, the owner and operator of the 288MW Meerwind Süd|Ost offshore wind farm.
The two companies have, through their subsidiaries, agreed to purchase a 100% stake in BCP Meerwind Luxembourg, a company which, through its wholly owned subsidiary, BCP Meerwind Germany GmbH, controls an 80% stake in WindMW, for EUR 645.4 million.
BCP Meerwind Luxembourg is a wholly-owned subsidiary of BCP Meerwind Cayman Limited, which is a unit of Blackstone. Blackstone revealed that the company intends to sell its stake in WindMW to China Three Gorges in June 2016.
China Yangtze Power International (Hong Kong), the wholly owned subsidiary of China Yangtze Power, and China Three Gorges (Europe), the wholly owned subsidiary of China Three Gorges Corporation, will control 30% and 70% of BCP Meerwind Luxembourg respectively after the transaction is complete.
WindMW was set up as a joint-venture company between Blackstone Group (80%) and Windland Energieerzeugungs GmbH (20%). WindMW GmbH was responsible for the planning and construction of Meerwind Süd|Ost and is now operating the wind farm located in the German part of the North Sea.
The Meerwind offshore wind farm is located south-west of the Danish-German border. It consists of 80 Siemens 3.6MW wind turbines and has been operational since January 2015.
Offshore WIND News Staff