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Focus Onshore: Wpd Sells Offshore Wind Business To Global Infrastructure Partners

Bremen, Germany - WPD AG and Global Infrastructure Partners (GIP) have signed an agreement to acquire Wpd Offshore GmbH. GIP is a global independent US infrastructure investor. The transaction is subject to customary regulatory approvals.

Wpd offshore GmbH's portfolio includes interests in five operational projects and projects under construction in Germany, France and Taiwan, as well as offshore project pipelines with over 30 GW (gross) of capacity worldwide in various stages of development.

Upon completion of the transaction, Achim Berge Olsen, currently Wpd's COO and responsible for the offshore wind business, will serve as CEO of the business acquired from GIP.

Björn Nullmeyer, Wpd board member and CFO: "Wpd was one of the early movers in the offshore wind market and the offshore unit prospered very well as part of wpd group. We have had an exciting and successful journey with the wpd offshore team and are delighted that GIP is taking a unique opportunity to unlock further potential with the plan to build up a global offshore wind player. wpd AG will further strengthen its onshore wind and solar activities in 30 countries in Europe, Asia, Chile and the US. Our operating wind and solar projects totaled 2,500 MW by end of 2021 and we will double this volume by 2024.”

Source: IWR Online, May 05 2022