Greencoat Renewables Secures Deal to Purchase 22.5% of Butendiek Offshore Wind Farm in Germany

Greencoat Renewables Secures Deal to Purchase 22.5% of Butendiek Offshore Wind Farm in Germany

Greencoat Renewables has recently attained a deal to purchase a part of the Butendiek offshore wind farm which has an output of 288MW and is located in Germany’s exclusive economic zone in the North Sea. An agreement with Marguerite Pantheon allows for Greencoat Renewables to own 22.5% of the project. This transaction was foreseen since June 2, 2022, when reNEWS reported on this potential change of ownership and is expected to be finalized sometime during Q1 this year. Butendiek comes with eighty Siemens Gamesa 3.6MW turbines that have been operational since 2015 and will continue supplying cost-efficient power until December 2035 via fixed-price FiT until 2023. During those years, sufficient energy will be provided to meet German/EU objectives for reduction of CO2 emissions as well as security guaranty regarding electricity supply.Michael Dedieu, Managing Partner at Marguerite and chairman of the Butendiek board said: “this venture successfully displays our policy of working side by side with knowledgeable partners while actively managing high-quality and sustainable infrastructure investments which grants attractive returns for our investors.” Greencoat Renewables also recently concluded its acquisitions of Taghart wind farm in Ireland (25MW) and Kokkoneva Wind Farm in Finland (45MW). Current estimates suggest their total borrowings stand at 47% of total asset value after these recent transactions have been finalized. Bertrand Gautier from Greencoat Renewables expressed: “we are pleased to do this acquisition which reinforces Greencoat Renewables’ market standing within the German offshore wind sector. It will bring about even more steady cash flows as well as diversification across Europe” He continues by saying that “we think the sector is going to keep providing attractive investment opportunities in the near future”


  • Greencoat Renewables has reached an agreement to acquire a stake in the 288MW Butendiek offshore wind farm, off Germany.
  • The investor is acquiring a 22.5% stake in the asset from Marguerite Pantheon.
  • Butendiek benefits from a fixed-price FiT until December 2023 and a floor price for the electricity sold until December 2035.

What percentage stake is Greencoat Renewables acquiring in the 288MW Butendiek offshore wind farm?

Greencoat Renewables is acquiring a 22.5% stake in the 288MW Butendiek offshore wind farm in Germany.

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Picture source: Andreas Gücklhorn

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