Investor Octopus Renewables has acquired two operational wind farms in the UK from a consortium of developers.
The company has bought the Muirhall South project in South Lanarkshire and Burton Wold South site in Northamptonshire totalling 16.8MW.
The former was acquired from Muirhall Energy, WWS Renewables and a private investor while the latter was purchased from the two developers as well as Infinergy. No purchase price was disclosed.
The acquisition marks the first deployment from the Renewable Energy Income Partnership III (REIP III), a £185 million institutional mandate announced earlier this year that is closed for further investment.
Octopus Renewables investment director Peter Dias said: “This acquisition adds to our ever-expanding onshore wind portfolio that has seen us become a market leader in the technology. “REIP III is also a great example of our ability to unblock further institutional investment in renewables by creating bespoke portfolios of assets for investors. This is important as increased institutional investment in renewables will be vital if the UK is to reach its target of net zero by 2050.”
Muirhall managing director Chris Walker added: “Building a relationship with Octopus Renewables to complete the asset sale has been a positive experience. With over 300MW of consented sites to build out over the next 24 months, and more than 1GW in development, Muirhall Energy and WWS Renewables have an exciting time ahead.”