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The ESG Phenomenon: Nuveen

Editorial Staff

13 July 2023

Nuveen Infrastructure
, a fund manager investing in clean energy, has just made an investment which will see them acquire a 15 per cent stake in 731.5MW Borssele III/IV offshore wind farm from Partners Group, a global private markets firm, acting on behalf of its clients. 

The investment is the second from the Nuveen European Core Renewable Infrastructure strategy, launched in September 2022 in partnership with Dutch investor MN, on behalf of its client PMT. NECRI is an evergreen strategy investing in renewable projects on brownfield sites across continental Europe, including the Netherlands, the UK, France, Spain, Italy, the Nordics, Germany and the other Benelux countries.

The transaction will see the fund acquire 15 per cent of the 731.5MW project located 22 kilometres offshore from the Zeeland province in the Netherlands, which has been in operations since Q4 2021. The farm consists of 77 state-of-the-art Vestas V164-9.5 MW wind turbine generators and benefits from a 15-year SDE+ subsidy from the Dutch Government, the firm said in a statement.

The acquisition combines Nuveen infrastructure’s 15-year experience of investing in renewable energy with MN’s experience in asset management and socially responsible investment in the Netherlands and beyond.

“We’re delighted to complete our second investment from the NECRI strategy, and to be investing in the Netherlands. The Dutch offshore wind market is a key target region for our business and Borssele III/IV fits well with our brownfield renewable infrastructure investment strategy. Partners Group have extensive experience in the renewable energy sector globally and we’re proud to work with them on this deal,” Joost Bergsma, CEO at Glennmont Partners from Nuveen, said.

"The investment in Borssele III & IV aligns perfectly with the fund's strategy, delivering both promising returns and supporting our client PMT's commitment to advancing the energy transition. Wind farms such as Borssele are crucial operating assets that meet the growing demand for renewable energy in the Netherlands,” Sebastiaan Ranner, principal portfolio manager at MN, added. 

Nuveen Infrastructure is the private infrastructure platform of Nuveen, the $1.1 trillion AuM investment manager. It offers access to a globally diversified renewable energy platform through Glennmont Partners, its clean energy investment specialist.