Swiss Life acquires 20% stake in Borssele III & IV

Swiss Life Asset Managers is purchasing a 20% share from Partners Group in a 731.5MW offshore wind farm in the North Sea.

For an unknown price, Swiss Life Asset Managers is purchasing the minority interest in Borssele III & IV in the Netherlands on behalf of its investors.

In June 2018, Partners Group purchased a 45% share in Borssele III & IV on behalf of its clients. The other partners in the Dutch offshore wind farm are the energy and petrochemical corporation Shell, the Dutch utility Eneco, the Japanese energy business Inpex, and the investor in renewables Luxcara.

Operations for Borssele started in 2021. The feed-in premium regime-benefiting, fully operating offshore wind park lies 55 kilometers from the Port of Vlissingen.

Swiss Life Asset Managers’ Marc Schürch, head of global renewable energy, stated: “We are pleased to have added Borssele III & IV to our fund portfolio.

“Offshore wind is an important technology for the European Union’s energy transition and a solid cornerstone of our investment plan. Our investors will be able to take advantage of consistent cashflows that are secured by a clever Dutch subsidy arrangement.

“Through our thematic investing strategy, we discovered offshore wind at the appropriate moment as a critical contributor towards attaining global net-zero targets in a high growth industry,” said David Daum, managing director, private infrastructure Europe at Partners Group.

“We invested in Borssele before the commencement of construction helped establish a separate organization to manage day-to-day operations, and steered the project through challenging circumstances during the COVID epidemic to reach full operational status. Presently, 2.3% of Dutch power consumption is met by Borssele.

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