Aviva Investors’ infrastructure platform has acquired a 49% stake in a £239.4m (€272.3m) Scottish wind farm portfolio from Fred Olsen Renewables (FOR).
Aviva Investors Infrastructure Income Fund is buying the interests in the portfolio which includes Crystal Rig III and Brockloch Rig Windfarm and will pay around £117.3m for the assets.
FOR will continue to provide asset management services to the projects, undertaking the day-to-day operational responsibility for the wind farms.
Sean McLachlan, a senior director of infrastructure at Aviva Investors, said: “We continue to expand our activities in the UK infrastructure market and have seen strong interest in this type of investment from clients looking for secure and long-dated income streams.
“We have developed an excellent relationship with Fred Olsen Renewables and look forward to continuing to work with them as we further expand our footprint in the wind energy sector,” McLachlan said.
The Aviva Investors Infrastructure Income Fund invests in a range of UK infrastructure sectors, with a particular focus on the low carbon infrastructure - primarily energy and energy efficiency - and social infrastructure sectors.