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Scottish Equity Partners sells UK, Irish wind assets to PiP

Wind turbines in Ireland. Author: Harry Pears. License: Creative Commons. Attribution-ShareAlike 2.0 Generic

April 16 (Renewables Now) - Scottish Equity Partners (SEP) said on Monday it has offloaded its portfolio of wind farms in the UK and Ireland to Pensions Infrastructure Platform (PiP) in a deal worth GBP 50 million (USD 65.5m/EUR 57.9m).

The portfolio consists of 64 turbines, ranging from single-turbine sites across the Orkney and Shetland Islands to utility-scale parks in Curraghderrig, Ireland and the Port of Tilbury in London. It was acquired by PiP’s Multi-Strategy Infrastructure Fund and will add to PiP’s existing assets, which include the 16-MW Aura wind park, touted as one of the largest stand-alone feed-in-tariff wind projects in the UK, and a minority interest in a 550-MW portfolio of EDF.

“Over the last four years, we have added significant value to the portfolio through active management and a hands-on approach. We believe this is the appropriate time for our fund to exit [..],” said Peter Bachmann, a director in SEP’s technology infrastructure team.

(GBP 1.0 = USD 1.309/EUR 1.158)

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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