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European Commission green-lights Merkur transaction

By: Tom Russell 16/03/2020 European Commission

General Windfarms

The European Commission has approved the acquisition of Merkur Offshore GmbH by Dutch pension investor APG Asset Management N.V. (APG) and UK infrastructure investment manager InfraRed Capital Partners Limited (IRCP).

Merkur Offshore GmbH owns and operates the Merkur offshore wind farm project, located in the German North Sea. The Commission concluded that the proposed acquisition, under the EU Merger Regulation, would raise no competition concerns given the companies' moderate combined market positions resulting from the proposed transaction. The transaction was examined under the simplified merger review procedure.

Merkur is a 396 MW project which produced first power at the beginning of June. The project is located about 35 km north of the island of Borkum in the German North Sea. It features 66 GE Haliade 160-6 MW turbines, the last of which was installed in September 2018. The array is expected to generate enough green energy to supply approximately 500,000 households per year. It is also the largest German project to finish construction.

GE Renewable Energy is supporting turbine Operations & Maintenance (O&M) under a 10-year service agreement. The project is supported by a Feed-in-Tariff for the next 13.5 years (until June 2033), followed by a floor price for a further 6 years.

For more information on offshore wind farms currently under construction, click here.

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European Commission green-lights Merkur transaction

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