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Energy

Advising Norges Bank Investment Management’s first unlisted renewable infrastructure investment

Macquarie Capital advised Norges Bank Investment Management (NBIM) on its €1.375 billion acquisition of a 50 per cent stake in Ørsted's 752 MW Borssele I and II offshore wind farm.

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SectorEnergy
Sub-sectorRenewables
LocationNetherlands

Opportunity

NBIM is the asset management division of Norges Bank, the Norwegian central bank. As one of the world's largest institutional investors, NBIM seeks to make a difference through sustainable investments.1

Ørsted is the largest operational offshore wind farm in the Netherlands and second-largest operational offshore wind farm in the world.2

Approach

Macquarie Capital advised NBIM on its €1.375 billion acquisition of a 50 per cent stake in Ørsted's 752 MW Borssele I and II offshore wind farm. Ørsted will remain co-owner and operator of the project.

The transaction represents NBIM’s first investment in unlisted renewable energy infrastructure and strengthens Macquarie Capital’s position as a leading adviser in the renewable energy market.3

Outcome

A landmark project for the Netherlands' transition to renewable energy.4

Expert sector knowledge

As a leading renewables financial adviser Macquarie’s Capital brought best-in-class information and support throughout the transaction process3

High tactical intelligence

Macquarie Capital provided highly tactical advice in a competitive process

Supporting the community

Borssele 1 & 2 generate enough power to cover one million households with green energy annually in the Netherlands and will support high-value jobs throughout the project’s operations5

Kickstarting the Netherland’s ambitious offshore wind programme6

Helping the country meet its 2030 carbon reduction goals5

  1. NBIM, 2019
  2. NBIM, 2021
  3. Inspiratia (CY22 by deal value)
  4. Orsted, 2021
  5. Orsted, 2020
  6. Government of the Netherlands, 2021

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