Aviva and Legal & General have completed financing to support Global Infrastructure Partners 50% investment in Orsted's 1218MW Hornsea 1 offshore wind farm off the east coast of England.
Aviva Investors provided £400m in fixed-rate and inflation-linked bonds for the deal, while LGIM Real Assets provided, on behalf of its clients including Legal & General Retirement Institutional, about £370m.
LGIM Real Assets senior investment manager for infrastructure debt Charles-Henry Lecointe said: “This deal represents our second offshore wind investment for LGIM clients, and our largest single investment into the renewable sector to date.”
We recognise the importance of the offshore wind industry and the vital role it plays in providing clean energy and stimulating job growth in the UK. Legal & General’s investment in the world’s largest offshore wind farm is testament to our continued focus in the renewables sector.
Aviva Investors head of infrastructure Darryl Murphy said: “We are delighted to have participated in the Hornsea 1 financing, which is a transformational deal for the European renewables market.”
We continue to have strong appetite for future investments within this sector, seeking opportunities that meet our clients' investment needs.
Source:renews
