SEP sells wind farm portfolio to Pensions Infrastructure Platform

Scottish Equity Partners (SEP) has sold its portfolio of onshore wind farms to Pensions Infrastructure Platform (PiP) for an enterprise value of £50m.

The SEP portfolio has 64 turbines  across the UK and Ireland, and contains all five of the wind farm investments made by the Environmental Capital Fund (ECF).

ECF is a specialist infrastructure fund managed by SEP.

The portfolio ranges from single-turbine sites across the Orkney and Shetland Islands to utility-scale turbines in Curraghderrig, Ireland and the Port of Tilbury in London.

The acquisition will add to PiP’s existing wind assets including Aura, one of the largest stand-alone Feed in Tariff wind portfolios in the UK, and Blyth, a minority shareholding in a 550MW 24 site wind portfolio operated and majority owned by EDF.

Peter Bachmann, a Director in SEP’s technology infrastructure team, said: “We are pleased to conclude this sale to PiP. 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 and we wish PiP success in the future.”

Joe Davis of PiP added: “PiP is delighted to have acquired this portfolio as it further provides our pension scheme investors with long term, inflation-linked cash flows to be used to help
meet their pension obligations.”