Macquarie Bank pays $2.7 billion for half of an offshore wind farm in the UK

Ian Forsyth/Getty Images

Macquarie Bank has closed a big renewable energy play, paying GBP1.6 billion ($A2.7 billion) to Danish group DONG Energy for 50% of a massive offshore wind farm in the UK.

The Race Bank is a 573 megawatt wind farm with 91 turbines off Blakeney Point on the North Norfolk coast.

The project, producing enough electricity to power more than 400,000 homes, is expected to be fully commissioned in 2018.

“We have a long and successful history of investing in renewable energy around the world,” says Martin Stanley, global head of Macquarie Infrastructure and Real Assets.

“Our funds have invested in wind farms, biomass power plants, photo-voltaic and hydro-electric facilities together with landfill gas generation.

“This investment is being made by our fifth European infrastructure fund which reached a final close earlier this year.”

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