Investment group Hermes GPE will take a majority stake in the 144MW Fallago Rig wind farm in Scotland.
Funds managed by Hermes GPE Infrastructure agreed to buy the
stake from French group EDF, which will
retain an equity interest in the plant and continue to manage it via its EDF Energy
Fallago Rig, located in the Scottish Borders region, uses 48
Vestas turbines and is the UK’s fifth-largest onshore wind farm, said Hermes
GPE. It started full operations in April this year.
The plant has a long-term power purchase agreement in place
with utility EDF Energy.
The value of the transaction was not disclosed.
Hofbauer, head of infrastructure at Hermes GPE, said: “The renewable energy
sector is a key area of interest for us, and Fallago Rig has very attractive
investment strategies focus on UK infrastructure assets that have a natural
linkage to UK inflation, benefit from clear regulatory support mechanisms, with
long-term stable and predictable cash flows, and solid yield characteristics.”
EDF Energy Nouvelles, the renewables unit of EDF, acquired Fallago Rig in February 2012 when it took over original developer North British Windpower.
The wind farm itself had to overcome several hurdles relating to military radar interference before it got the go ahead.