Category: Real Assets
396MW Merkur project off German coast is now operational 396MW Merkur project off German coast is now operational 396MW Merkur project off German coast is now operational
ABP, the €459bn Dutch civil service pension fund, has acquired a 64% stake in a “mega” windfarm 45km (28 miles) off the coast of Germany for an undisclosed sum.
The purchase of the 66-turbine, 396 MW Merkur Offshore in the German North Sea was made on its behalf by its asset management arm APG. The project, whose capital cost was €1.6bn, was recently completed and is now fully operational.
Merkur is one of the largest German offshore wind projects benefitting from a long-term tariff support under the German Renewable Energy Act (EEG).
It’s APG’s second investment in the offshore wind sector following its previous investment in Walney 1 in the UK, which is part of the world's largest offshore wind farm. ABP indicated that investments in similar projects cannot be ruled out in the future given that this type of offshore wind farm is expected to play a central role in European energy policy in the coming years.
APG, which manages around €528bn…