Stake Transaction

In September 2015, Global Infrastructure Partners (GIP) acquired a 50% equity stake in the 330 MW Gode Wind 1 offshore wind farm from DONG Energy (now Ørsted). The consideration for this half-share in the project was reported as EUR 780 million. To finance GIP’s acquisition, Talanx coordinated a structured bond of EUR 556 million for construction and operation of Gode Wind 1, marking the first time a group of institutional investors led by an insurer financed an offshore wind power project. Following this transaction, ownership of Gode Wind 1 was split between Ørsted and GIP, with Ørsted retaining the remaining 50% and continuing as developer and operator.