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New Deal


Announced

Global Infrastructure Partners to acquire a 50% stake in Revolution Wind and South Fork Wind from Eversource Energy for $1.1bn.

Financials

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Transaction Value£869m
Consideration TypeCash
Capital Owned-
Capital Bid For50%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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United States

Acquisition

Private

wind farm

Renewable Energy Equipment

offshore wind projects

Majority

Private Equity

Domestic

Pending

Friendly

Single Bidder

Synopsis

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Global Infrastructure Partners, a private equity firm, agreed to acquire a 50% stake in offhore wind farms Revolution Wind and South Fork Wind from Eversource Energy, an energy company, for $1.1bn. “We continue to believe that offshore wind represents the most significant opportunity to decarbonize the electric generation footprint of New England. Eversource will remain an integral player in this historic shift to a clean energy generation mix by focusing on our strengths as a regulated transmission builder and operator and bringing the benefits of these investments to our customers," Joe Nolan, Eversource Energy Chairman, President, and CEO.

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