Former BoE chief's company makes huge bet on UK wind power
Brookfield Asset Management acquires major stakes in four offshore wind farms across British seas. The multi-billion pound deal marks the companyʼs first step into UKʼs growing wind energy sector
Mark Carneyʼs Brookfield Asset Management jumped into UK wind energy with a mega-deal worth £1.8bn‚ taking over parts of four sea-based wind farms (enough to power about 3m homes)
The ex-Bank of England bossʼs firm bought 12.45% stake from Danish company Ørsted‚ marking its first-ever UK off-shore wind investment: The deal includes two North Sea projects - Hornsea 1 and 2‚ plus Irish Seaʼs Walney and Burbo Bank facilities
Weʼre supporting the countryʼs decarbonisation objectives
These wind-farms look good for investors cause UKʼs Contract for Difference system gives them fixed power prices. Ørsted keeps 37.55% ownership and will run day-to-day operations‚ while looking to sell half of its planned £9bn Hornsea 3 project
Carney‚ who ran the Bank from 2013 till about 4 years ago has close ties with Labour - especially with Chancellor Rachel Reeves. His companyʼs already got £60bn in UK stuff including:
- Checkatrade (the fix-it guys directory)
- First Hydroʼs Welsh mountain power storage
- Stakes in nuclear fuel maker Westinghouse
The deal comes with some back-story drama: theres been talk about Carney using his connections to push for heat-pump rule changes that could help another Brookfield company - though they say he didnt do this while speaking for them
