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UPDATE 1-Bids readied for Blackstone German wind park -sources

Published 05/02/2016, 04:27 am
Updated 05/02/2016, 04:30 am
© Reuters.  UPDATE 1-Bids readied for Blackstone German wind park -sources
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* Bids due Feb. 5 -sources

* Meerwind to fetch about 1.6 bln euros -sources

* Bidders to include Macquarie, Allianz, MEAG -sources (Adds details of wind park, wind power investment industry)

By Arno Schuetze, Christoph Steitz and Freya Berry

FRANKFURT/LONDON, Feb 4 (Reuters) - Infrastructure funds are among the bidders preparing offers for Blackstone's BX.N Meerwind Sued/Ost German offshore wind park, three people familiar with the matter told Reuters.

The bids, which are due on Friday, are expected to value the group at about 1.6 billion euros ($1.8 billion), they added, reflecting a recent spike in interest wind parks.

Australian investment group Macquarie MQG.AX , which has emerged as ambitious player in the European offshore wind industry, is among those the sources said were expected to submit offers. infrastructure funds such as Borealis - part of pension fund OMERS - as well as insurers like Allianz ALVG.DE and MEAG, the investment arm of German reinsurer Munich Re MUVGn.DE are also likely to bid, the sources said.

Offers are also likely to come from sovereign wealth funds including Chinese investors, which have grown more aggressive in snapping up assets in Germany, they added. 288 megawatt wind park, located 23 kilometres north of the German island of Heligoland, was completed in 2014 and provides electricity for up to 360,000 households.

It is owned by WindMW, in which Blackstone (N:BX) owns an 80 percent stake, with the remaining stake held by German wind project developer Windland Energieerzeugungs GmbH.

Windland, Blackstone, their advisers and the potential bidders declined comment or were not immediately available.

Europe's offshore wind industry has been boosted by a flurry of deals, as risk-averse investors are looking for regulated energy infrastructure with guaranteed returns, including wind parks. Bank of America Merrill Lynch (N:BAC) BAC.N and PJT PJT.N are advising on the sale of the assets, two of the people said.

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