Aviva Investors, the global asset management business of Aviva, has acquired a 49 per cent interest in a portfolio of UK onshore wind farms from Fred. Olsen Renewables Limited in one of the largest single acquisitions made by its infrastructure platform to date.
The portfolio includes two operational assets: Crystal Rig III Limited (six turbines, 13.8MW) and Brockloch Rig Windfarm Limited (30 turbines, 61.5MW). Both are located in Scotland.
Fred. Olsen Renewables will continue to provide asset management services to the projects, undertaking the day-to-day operational responsibility for the wind farms.
The acquisitions were made on behalf of the Aviva Investors Infrastructure Income Fund and represent a further addition to its existing portfolio of investments in wind energy. The Fund invests in a range of UK infrastructure sectors, with particular focus on the low carbon infrastructure – primarily energy and energy efficiency – and social infrastructure sectors.
Sean McLachlan, Senior Director, Infrastructure, at Aviva Investors, says: “We continue to expand our activities in the UK infrastructure market and have seen strong interest in this type of investment from clients looking for secure and long-dated income streams. We have developed an excellent relationship with Fred. Olsen Renewables and look forward to continuing to work with them as we further expand our footprint in the wind energy sector.”
Advisers to Aviva Investors were CMS (legal), RINA (technical) and Mazars (financial and tax).
