Gresham House’s flagship infrastructure and housing investment platform has made its fourth investment in the UK with the acquisition of a wind farm.
The London-based manager’s £165m (€182.6m) British Strategic Investment Fund (BSIF) has bought Wathegar 2 from renewable energy developer BayWa re for an undisclosed sum.
The wind farm has a capacity of 18.45MW comprising nine 2.05MW Senvion turbines.
The transaction is the first renewable energy investment for BSIF and the fourth overall investment for the fund.
The latest deal is the fourth investment for the fund, which made its first investment in December 2017.
Ben Guest, the lead fund manager for BSIF, said: “We are delighted to have completed the acquisition of Wathegar 2, our first renewable energy investment for BSIF.”
The project is close to the Wathegar 1 wind farm which is also managed by Gresham House Asset Management.
“Both wind farms enjoy high capacity factors typical of north east Scotland. We look forward to realising the significant long-term value that we see in this project.”
Gordon MacDougall, the managing director of BayWa re, said: “This sale and the recent acquisition of another Scottish wind farm, which we will build by the end of 2019, underline our ongoing commitment to the UK wind market.”