Scottish Equity Partners (SEP) has sold its portfolio of onshore wind farms to Pensions Infrastructure Platform (PIP) in a transaction valued at £50 million.
The portfolio comprises 64 turbines in locations across the UK and Ireland and contains all five of the wind farm investments made by the Environmental Capital Fund (ECF), a specialist infrastructure fund managed by SEP. Details of the total portfolio size are undisclosed.
The assets include single-turbine sites across the Orkney and Shetland Islands, plus the 4.6MW Curraghderrig wind farm in Ireland and the 9.2MW Port of Tilbury (pictured) facility.
The acquisition will supplement PIP’s existing wind assets, which include Aura, one of the largest stand-alone feed-in tariff wind portfolios in the UK, and its minority shareholding in Blyth, a 550MW wind portfolio operated and majority owned by EDF, spread over 24 sites.
SEP technology infrastructure team director Peter Bachmann said: “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.”
The wind farm disposal by SEP follows the recent sale of another of the company’s energy infrastructure investments, Indigo Pipelines, comprising gas transportation network in the UK.