Greencoat Renewables to acquire a 50% stake in Borkum Riffgrund 1 from Kirkbi and William Demant for €350m.

Greencoat Renewables, an investor in euro-denominated renewable energy infrastructure assets, agreed to acquire a 50% stake in Borkum Riffgrund 1 wind farm from Kirkbi, Kirk Kristiansen family's private holding and investment company, and William Demant, an evergreen investment company, for €350m. "We are very pleased to enter the continental offshore wind market with a significant strategic stake in Borkum Riffgrund 1. This acquisition will contribute to Greencoat Renewables' strategy to build a diversified portfolio of high-quality renewable electricity generation assets supported by strong contracted cash-flows and will support the Company's further expansion into continental Europe," Bertrand Gautier, Greencoat Renewables Investment Manager.