March 25 (Renewables Now) - Private equity investment manager Foresight Group LLC has set up a joint venture with UK-based renewables developer Belltown Power Ltd to develop the latter’s over 300-MW pipeline of onshore wind projects in the UK.
The JV will use the existing Belltown brand, Foresight said on Tuesday. It will be tasked with developing the particular projects, mostly located in Scotland and Wales, using various options to bring them to completion. These include development on a merchant basis, through power purchase agreements and with support by the Contract for Difference (CfD) scheme.
The partners noted that the pipeline of projects is focused on sites with “excellent potential for wind development.”
The agreement builds on an existing partnership between the two companies which started back in April 2018 when Foresight bought 111 MW of ROC and FiT accredited wind and solar assets from Belltown.
Belltown was advised by Burness Paull in the JV deal, while Foresight’s counsel was Ashurst.