Swiss private equity firm Partners Group has sold Greenlink, a 504 MW undersea power line connecting the UK and Ireland, to Baltic Cable and Equitix.
The transaction is valued at €1 billion, Partners added in a statement, noting that UBS, Clifford Chance and Arthur Cox acted as advisors to the transaction.
Partners Group Holding is a Swiss investment company specializing in private equity. Headquartered in Bari (Canton of Zug, Switzerland), it had assets under management of $135 billion at the end of 2022, ranking it 161st in the world.
Greenlink is an underwater and underground electricity interconnector connecting the electricity markets in Ireland and the UK, scheduled for completion in early 2025. It is one of the most important energy infrastructure projects in Europe.
Greenlink brings significant benefits on both sides of the Irish Sea for employment, energy security and the integration of low-carbon energy sources. For Ireland, it provides a natural connection to the EU and Nordic electricity markets via the UK.
Source: Reuters
