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GIP / ORSTED / SOUTHFORK WIND / REVOLUTION WIND
M.11560
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Disclaimer :
The Competition DG makes the information provided by the notifying parties in section 4 of Short Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.
SECTION 4
Description of the concentration
On 13 May 2024, the European Commission received notification of a proposed concentration pursuant to Article 4 of the EU Merger Regulation by which GIP IV Whale Fund Holdings, L.P., which operates under the trading name Global Infrastructure Partners ("GIP"), intends to acquire (indirect) joint control within the meaning of Articles 3(1)(b) and 3(4) of the EU Merger Regulation over South Fork Wind, LLC and Revolution Wind, LLC (together "South Fork Wind and Revolution Wind", the "Target") from Eversource Energy (the "Transaction") pursuant to a Membership Interest Purchase Agreement executed on 13 February 2024.
Post Transaction, GIP will exercise joint control over the Target together with Ørsted A/S ("Ørsted"). Ørsted's (indirect) interest in the Target will not be affected by the Transaction.
GIP is a global independent infrastructure fund headquartered in New York, United States, primarily focused on investing in transportation, energy, waste, water, and digital infrastructure sectors.
Ørsted is a multinational energy company headquartered in Denmark. Ørsted is primarily engaged in the development, construction and operation of offshore wind farms across Europe, the Americas and Asia-Pacific. It also develops, constructs and operates onshore wind and solar farms in Europe and the Americas. In Denmark, it also owns and operates heat and power generation plants, and trades in natural gas, liquefied natural gas and electricity.
South Fork Wind and Revolution Wind are two offshore wind development projects located in the United States, exclusively serving North American customer.
Commission européenne/Europese Commissie, 1049 Bruxelles/Brussel, BELGIQUE/BELGIË - Tel. +32 22991111
Commission européenne/Europese Commissie, 1049 Bruxelles/Brussel, BELGIQUE/BELGIË - Tel. +32 22991111