Asset manager Capital Dynamics has bought the Pines Burn onshore wind project in Scotland from renewable energy developer Energiekontor for an undisclosed sum.
Capital Dynamics said its clean energy arm has acquired Pines Burn, a 34MW subsidy-free onshore wind project located in the Scottish Borders. The project is expected to reach commercial operations in the second half of 2023.
The latest deal is the third UK acquisition Capital Dynamics Clean Energy has made from Energiekontor following the acquisition of the Longhill and Sorbie wind projects last year.
Barney Coles, the co-head of Capital Dynamics Clean Energy, said: “With the increasing importance of energy security in Europe, we are delighted to add Pines Burn Wind Farm to our extensive program of investments in the build-out of new, renewable power generation capacity across the continent.
“Our long-standing collaboration with Energiekontor continues to deliver infrastructure that will underpin reductions in household energy bills in the long run, and create local green jobs that support the UK’s ‘levelling up’ agenda whilst making a meaningful contribution towards its net-zero ambitions.”
Peter Szabo, the CEO of Energiekontor, said: “The realisation of our Scottish project pipeline continues to gain momentum. In less than a year, we have already been able to sell almost 100MW of wind projects. We are particularly pleased about the further cooperation with Capital Dynamics, as a renowned, reliable and strong partner.”
“We will continue the successive and successful realisation of our well-filled project pipeline in Scotland in the months to come. By doing so, we also contribute to increasing Scotland’s independence from fossil fuels and to achieve its goal to reach ‘net zero’ by 2045.”
To read the latest edition of the latest IPE Real Assets magazine click here.
No comments yet