Greencoat to acquire a 25% stake in Burbo Bank Extension from AIP Management for £400m.

Greencoat, a renewable fund manager, agreed to acquire a 25% stake in Burbo Bank Extension, a 258MW offshore wind farm, from AIP Management, a Danish investment manager, for £400m ($547m). The London-based investor in renewable energy infrastructure sector said the acquisition will be funded using its revolving credit facility, cashflow and the proceeds of a new equity raise.