Sale of 12.5% interest in Merkur Offshore Wind Farm to APG and TRIG

DEME Concessions, a subsidiary of the DEME Group, completes the sale of its stake (12.5%) in the Merkur Offshore Wind Farm.

The consortium comprising of funds managed and/or advised by Partners Group (50%), InfraRed Capital Partners (25%), DEME Concessions (12.5%), GE Energy Financial Services (6.25%) and ADEME, acting on behalf of France “Investments for the Future” programme (6.25%) has successfully completed on 12 May 2020 the sale of 100% of Merkur Offshore GmbH, one of the largest operational wind farms in Germany, to APG, the Dutch pension investor and The Renewables Infrastructure Group Limited (“TRIG”) , the FTSE 250 London‐listed investment company advised by InfraRed Capital Partners.

The transaction leads to a capital gain of €62 mio for DEME.

Merkur Offshore GmbH is a Hamburg‐based company which has been responsible for the planning and construction of a 396‐MW offshore wind farm located c. 45 kilometres north of Borkum Island in the German North Sea. The project comprising of 66 General Electric (“GE”) Haliade‐150 6‐MW offshore wind turbines was fully commissioned in June 2019. The project benefits from a guaranteed Feed-in-Tariff until 2033 and has a 10-year O&M agreement with GE Renewable Energy for the service and maintenance of the turbines.
 

DEME is a world leader in the highly specialised fields of dredging, solutions for the offshore energy industry, infra marine and environmental works. The company can build on more than 140 years of know-how and experience and has fostered a pioneering approach throughout its history, enabling it to be a front runner in innovation and new technologies.

DEME’s vision is to work towards a sustainable future by offering solutions for global challenges: a rising sea level, a growing population, reduction of CO2 emissions, polluted rivers and soils and the scarcity of natural resources.

While the company’s roots are in Belgium, DEME has built a strong presence in all of the world’s seas and continents, operating in more than 90 countries worldwide. DEME can rely on 5,200 highly skilled professionals across the globe. With a versatile and modern fleet of over 100 vessels, backed by a broad range of auxiliary equipment, the company can provide solutions for even the most complex projects.

DEME achieved a turnover of 2.62 billion euros in 2019.