Principal investment in Baltic 2, a German offshore wind farm.
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Baltic 2, an offshore wind farm located in the Baltic Sea, is the second offshore wind project by Energie Baden-Württemberg (EnBW), one of the largest energy supply companies in Germany and Europe.
Macquarie Capital worked with EnBW to develop a transaction structure that enabled the sale of a 49.89 per cent stake to Macquarie Capital, whilst meeting EnBW’s objectives to retain control and no asset level debt.
The debt was structured and raised by Macquarie as a large tranche of HoldCo level debt, the first time this innovative transaction structure has been used in the German offshore wind sector