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Blackstone eyes third German project

US private equity firm Blackstone is interested in acquiring a third German offshore project, said Jens Assheuer, managing director of WindMW, the company building the 288MW Meerwind wind farm.

WindMW is 80% owned by Blackstone, while developer Windland Energieerzeugung holds the rest.

Blackstone also already owns the Nördlicher Grund offshore project, which it plans to equip with 64 6MW turbines.

“If a third project crosses our path, we would think about (buying) it,” Assheuer told Recharge.

Private equity, infrastructure or pension funds, and private industrial companies so far are contributing little to the financing of German offshore wind projects, which is dominated by large utilities and syndicated bank loans.

More projects by Blackstone would be a positive sign for the diversification of financing in the German offshore sector.

Unlike for Meerwind, Blackstone hasn’t yet taken a final investment decision on Nördlicher Grund,because it has received a grid-connection pledge for the project only in 2022.

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