The European Commission has given the go ahead for Macquarie Group to buy German offshore wind developer Ocean Breeze Energy.
The acquisition of Ocean Breeze Energy from Italian banking and financial services company UniCredit Bank has been made through a consortium led by the Australian company.
Ocean Breeze Energy owns and operates the BARD Offshore 1 (BO1) wind farm, located 100km off the German North Sea coast.
The 80-turbine offshore wind farm, believed to be Germany’s “most productive” project of its kind, has a total capacity of 400MW and can generate enough electricity to power more than 450,000 households.
The Commission said the proposed acquisition would raise no competition concerns “as the companies are not active on the same or vertically related market”.