German developer Wpd has struck a deal with Global Infrastructure Partners (GIP) to sell 100% of its offshore wind business, wpd offshore for an undisclosed sum.
Wpd offshore has around 7 GW of offshore wind developed to date and a presence in fourteen European and APAC markets. Its portfolio includes interests in 5 operating and under construction projects in Germany, France and Taiwan and a diversified offshore wind pipeline in various stages of development of more than 30 GW.
Björn Nullmeyer, the CFO of wpd, said: “We have had an exciting and successful journey with the wpd offshore team and are delighted that GIP is taking a unique opportunity to unlock further potential with the plan to build up a global offshore wind player. wpd AG will further strengthen its onshore wind and solar activities in 30 countries in Europe, Asia, Chile and the US. Our operating wind and solar projects totaled 2,500 MW by end of 2021 and we will double this volume by 2024.”
Achim Berge Olsen, current COO of wpd and responsible for its offshore wind business, will serve as CEO of the business acquired by GIP.