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Watson Farley & Williams (WFW) has advised Greencoat Renewables PLC (Greencoat) on its acquisition of a 22.5% stake of Marguerite Pantheon’s Butendiek offshore wind farm in the German North Sea, west of Sylt.
The deal remains subject to regulatory approval. Operational since 2015, Butendiek, comprises 80 3.6 MW turbines with a total installed capacity of 288 MW. It benefits from a floor price for the electricity sold until December 2035, enabling it to access the emerging European corporate PPA market. Greencoat is an investor in euro-denominated renewable energy infrastructure assets, with a portfolio of more than 1,164 MW of generation capacity. Marguerite Pantheon is a Luxembourg-based infrastructure core fund managed by Marguerite Adviser.
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