Private equity fund manager Partners Group will replace oil giant Shell as lead shareholder in the 731MW Borssele 3&4 offshore wind project off The Netherlands.

Partners Group has signed a deal to acquire a 45% share in the Blauwwind offshore wind consortium developing Borssele 3&4 after buying part of the stakes of three of the existing members.

Shell’s share halves to 20%, Japanese group Mitsubishi’s to 15%, and Dutch utility Eneco's to 10%.