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Storebrand Infrastructure Fund invests in Germany's largest planned offshore wind farm

Written by Adam Cadle
24/03/2023

Storebrand Infrastructure Fund has announced the acquisition of an equity stake in He Dreiht, a construction-ready 960 MW offshore wind farm in the German North Sea.

Storebrand's strategic infrastructure partner, AIP, has formed a consortium with Allianz Capital Partners (ACP) and Norges Bank (NBIM) acquiring 49.9% of the project. Storebrand Infrastructure Fund is investing more than NOK 1bn in the transaction.

"He Dreiht represents an attractive combination of key infrastructure characteristics and meaningful impact on the path to net-zero. The wind farm is expected to produce clean energy for more than 1.1 million households, and long stable cash flows provide characteristics we consider attractive in a balanced portfolio", Storebrand Asset Management head of infrastructure Jo Gullhaugen said.

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