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.”
