EU clears joint control of UK green bank’s wind farms

The European Commission has approved the joint takeover of nine wind farms from the UK Green Investment Bank (GIB). Located off the coast of England and Wales, they are now […]

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By Priyanka Shrestha

The European Commission has approved the joint takeover of nine wind farms from the UK Green Investment Bank (GIB).

Located off the coast of England and Wales, they are now owned by Australia’s Macquarie Group and the UK’s Universities Superannuation Scheme Limited (USSL).

The news follows the £2.3 billion sale of the GIB to the Macquarie Group last month.

Macquarie is a global investment company, banking and financial services provider while USSL is a corporate trustee responsible for managing a UK private sector pension scheme for staff in universities and other higher education and research institutions.

The Commission said the proposed transaction “would raise no competition concerns as there are very minor overlaps between the companies’ activities.”