March 13 (Renewables Now) - Infrastructure investment manager Ancala Partners LLP has taken possession of an 82-MW wind farm in Cyprus, it said on Friday without disclosing the value of the deal.
The Orites wind park, which Ancala says is the largest facility of its kind in Cyprus, consists of 41 Vestas V90-2MW turbines that have been generating electricity since 2011. Its output is being sold under a long-term power purchase agreement (PPA) with the Electricity Authority of Cyprus (EAC).
Developed and constructed by Platina Energy Partners, the wind park is supported by a fixed-rate tariff by the Cypriot government, valid until 2031. Denmark’s Vestas Wind Systems (CPH:VWS) is taking care of its operations and maintenance (O&M).
Ancala Partners acquired the asset through some of the funds it manages. According to partner Karen Dolenec, the purchase will play an important role in diversifying the portfolios of its investors. “We look forward to exploring additional opportunities to support Cyprus in its transition to a more sustainable and self-sufficient energy sector,” he added.