Octopus Renewables acquires two UK wind farms with combined capacity of 16.8MW
Octopus Renewables, the specialist clean energy investor arm of Octopus Group, has acquired two UK operational ROC accredited onshore wind farms with a combined capacity of 16.8MW.
The acquisition marks the first deployment from the Renewable Energy Income Partnership III (REIP III), a £185 million institutional mandate announced earlier this year that is closed for further investment.
The two wind farms, located in South Lanarkshire and Northamptonshire, provide the equivalent energy to power more than 17,000 UK homes, or the equivalent saving of CO2 to removing close to 50,000 petrol or diesel cars from the road. The wind farms were purchased from a conglomerate of sellers made up of Muirhall Energy with WWS Renewables, and Infinergy. The South Lanarkshire wind farm was acquired from Muirhall Energy, WWS Renewables and a private investor and the Northamptonshire wind farm was acquired from Muirhall Energy, WWS Renewables and Infinergy.
Over the last decade, Octopus Renewables has grown to become one of Europe’s major investors in renewables, managing more than £3 billion in renewable energy assets. Octopus is the largest commercial solar energy investor in Europe, as well as a leading UK investor in onshore wind and biomass.
Peter Dias, Investment Director at Octopus Renewables, says: “This acquisition adds to our ever-expanding onshore wind portfolio that has seen us become a market leader in the technology. REIP III is also a great example of our ability to unblock further institutional investment in renewables by creating bespoke portfolios of assets for investors. This is important as increased institutional investment in renewables will be vital if the UK is to reach its target of net zero by 2050.”
Tjiwolt Wierda, Director at Infinergy, says: “We are delighted to have achieved this deal with such renowned renewable energy investors, which is testament to the hard work our combined teams have put in to deliver a high-quality renewable energy asset. Burton Wold Wind Farm South is only at the beginning of its operational life and will be generating zero-carbon electricity for many years to come, contributing to the world-wide transition to renewable sources of energy.”
Chris Walker, Managing Director of Muirhall Energy, says: “Building a relationship with Octopus Renewables to complete the asset sale has been a positive experience. With over 300MW of consented sites to build out over the next 24 months, and more than 1GW in development, Muirhall Energy and WWS Renewables have an exciting time ahead. The funds achieved by this sale will help us realise those renewable energy opportunities, extend our commitment to the communities in which we work, and contribute to reaching the green energy targets set by the Scottish and Westminster Governments.”