London, 27 October 2019
Macquarie Infrastructure and Real Assets (“MIRA”) has reached an agreement with Siemens AG to acquire an additional 10 per cent stake in Gwynt y Môr Offshore Wind Farm (“Gwynt y Môr”) in the United Kingdom (“UK”).
Gwynt y Môr is a 576 MW offshore wind farm positioned 13 kilometres off the coast of North Wales. Operational since 2015, Gwynt y Môr is comprised of 160 3.6 MW wind turbines spread across 80 square kilometres. Each year, the wind farm provides enough clean electricity to power approximately 430,000 UK homes.
Leigh Harrison, Head of MIRA EMEA, said: “We are delighted to announce an additional investment in Gwynt y Môr Offshore Wind Farm. Offshore wind is a great success story for the UK and an important component of the country’s clean growth strategy. We are pleased to be supporting its continued development – bringing additional long-term institutional capital into the sector to support the UK’s transition to a future powered by renewables.”
MIRA has managed a 10 per cent stake in Gwynt y Môr since 2017 following Macquarie Group’s acquisition of the Green Investment Bank.
MIRA is a major investor in renewable energy around the world and has supported the UK’s low-carbon transition since 2005. Via its managed funds, MIRA currently oversees investments in 10 offshore wind farms around the UK. With a total combined capacity of 2,966 MW, the portfolio represents approximately 38 per cent of the UK’s total offshore wind generation capacity.
Macquarie has had a presence in the UK for 30 years, opening its London headquarters in 1989. Today, Macquarie is one of the largest investors in the UK, having invested and arranged more than £40 billion in infrastructure projects since 2005.
Siemens AG (Berlin and Munich) is a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability and internationality for more than 170 years. The company is active around the globe, focusing on the areas of power generation and distribution, intelligent infrastructure for buildings and distributed energy systems, and automation and digitalisation in the process and manufacturing industries. Through the separately managed company Siemens Mobility, a leading supplier of smart mobility solutions for rail and road transport, Siemens is shaping the world market for passenger and freight services. Due to its majority stakes in the publicly listed companies Siemens Healthineers AG and Siemens Gamesa Renewable Energy, Siemens is also a world-leading supplier of medical technology and digital healthcare services as well as environmentally friendly solutions for onshore and offshore wind power generation. In fiscal 2018, which ended on September 30, 2018, Siemens generated revenue of €83.0 billion and net income of €6.1 billion. At the end of September 2018, the company had around 379,000 employees worldwide.
For further information, please visit www.siemens.com.