Institutional funds still think big is best in offshore wind

Institutional investors are warming to offshore wind, but they will continue to take a frosty view of smaller, independent developers for the foreseeable future, according to a senior manager at the Netherlands’ second-largest pension provider.

In December 2010, the offshore industry passed a critical milestone when OPW — a consortium of Dutch pension-fund service provider PGGM and Ampere Equity Fund — bought a 24.8% stake in the 367MW Walney project from Dong Energy.

OPW paid £16m ($25.3m) for its stake, as well as picking up a pro-rata share of construction costs. Dong continues to own a 50.1% stake in Walney, which was inaugurated off the coast of Barrow-in-Furness, northwest England, this month. Scottish utility SSE holds the remaining 25.1%.

While the amount…

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