Munich Re buys 102MW UK onshore wind portfolio

German insurance giant Munich Re has bought a 102MW portfolio of onshore wind farms in the UK.

Munich Re purchased the wind farms via its asset management subsidiary MEAG, which paid an undisclosed sum to previous owner HgCapital, a private equity group.

The plants are the 65MW Scout Moor wind farm near Manchester, the 21MW Tir Mostyn in North Wales and the 16MW Bagmoor in Lincolnshire.

MEAG says the deal comes under Munich Re’s Renewable Energies and New Technologies programme, which plans to invest a total of €2.5bn ($3.1bn) and has splashed out more than €600m since early 2011.

MEAG managing director Holger Kerzel says: “Great Britain Log in to read complete article.

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