RPMI Railpen has made a direct investment in the UK’s renewable energy sector with the acquisition of a wind farm in Scotland.
The in-house manager for the UK’s £30bn (€35bn) railways pension scheme has bought the Tralorg Wind Farm in South Ayrshire from BayWa re for an undisclosed sum.
The wind farm, which is under construction and scheduled to be operational next year, consists of eight 2.35MW turbines
Lewis Vanstone, deputy portfolio manager of Railpen’s long-term income fund, said: “The wind farm’s sustainable, long-dated and asset-backed income characteristics dovetail perfectly with our core investment themes.
“The experience and expertise of our partner BayWa ensure this deal will be of great long-term value for members.”
BayWa’s UK service business, BayWa re Operation Services, will provide Railpen with ongoing operations and commercial management services for Tralorg Wind Farm.
Gordon MacDougall, managing director, BayWa re UK, said: “We’re very pleased to have secured this first project sale with RPMI Railpen.
“We look forward to developing an ongoing relationship with them and, once the project is operational, ensuring that the wind farm gives them the best return on their investment through provision of ongoing asset management services.”