Foresight Group’s European energy infrastructure fund has bought a 94MW windfarm portfolio in Spain.
The Foresight Energy Infrastructure Partners (FEIP) fund has invested an undisclosed amount to buy two operational wind farms located in the Castile and León region of Spain from developer WPD.
The wind farms, commissioned in the fourth quarter of 2019, benefit from ongoing operational management services provided by WPD Windmanager.
The latest acquisition increases Foresight’s European wind portfolio to 800MW, the manager said.
Richard Thompson, partner at Foresight and co-manager of FEIP said: “We are delighted to have completed this significant addition to our portfolio which delivers geographic diversification and secure revenue streams for our investors.
“We plan to secure independent EU Taxonomy verification for this portfolio which will make a visible contribution to the EU’s goal of net-zero by 2050.”
In January, the FEIP fund, which is targeting a €500m fundraise, raised €342m in capital commitments at the first close.
Foresight said it is working towards a second close for FEIP which is on target for €500m.
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