Partners Group, a leading global private equity firm based in Switzerland, has agreed to sell Greenlink Interconnector, a 504 MW subsea electricity interconnector linking Great Britain and Ireland, to Baltic Cable AB and Equitix. The transaction values Greenlink at an enterprise value of over EUR 1 billion.
Partners Group
Established in 1996, Partners Group has grown into one of the largest firms in the global private markets industry, managing assets across private equity, private infrastructure, private real estate, and private debt. As of 2024, the firm manages over USD 150 billion in assets and operates with a team of approximately 1,800 professionals worldwide. Partners Group has a strong track record of investing in and developing infrastructure projects that support the energy transition and enhance grid stability.
Greenlink Interconnector
Greenlink is a critical infrastructure asset that consists of two converter stations and two high-voltage cables running 190 km under the Irish Sea. It connects National Grid’s substation in Pembrokeshire, Wales, to EirGrid’s Great Island substation in County Wexford, Ireland. With a nominal capacity equivalent to powering around 380,000 homes, Greenlink plays a pivotal role in integrating renewable energy sources, providing grid flexibility, and enhancing energy security for both Great Britain and Ireland.
Baltic Cable AB and Equitix
Baltic Cable AB is a subsidiary of Statkraft, Europe’s largest generator of renewable energy, and operates the Baltic Cable, a high-voltage direct current (HVDC) submarine power cable between Sweden and Germany. Equitix is a leading investor, developer, and long-term fund manager of core infrastructure assets, with a focus on social infrastructure, transportation, and renewable energy projects in the UK and Europe.
Transaction Details
Partners Group acquired a controlling stake in Greenlink in 2019 and took full ownership in 2021. During its ownership, Partners Group led the project through financial close and construction, achieving initial commercial operations on time in early 2025. The firm was instrumental in securing financing and sourcing top-tier suppliers during the construction phase, making Greenlink the first project-financed interconnector to be completed in Europe.
The sale of Greenlink aligns with Partners Group’s strategy of transforming businesses and assets into market leaders and realizing value for its clients. The new ownership by Baltic Cable AB and Equitix is expected to ensure the continued successful operation of Greenlink, further supporting the integration of renewable energy and enhancing energy security in the region.