Scottish Equity Partners (SEP) said on Monday it has sold its portfolio of onshore wind farms to Pensions Infrastructure Platform (PiP) for an enterprise value of £50 million.
Comprising 64 turbines in locations across the UK and Ireland, the SEP portfolio contains all five of the wind farm investments made by the Environmental Capital Fund (ECF), a specialist infrastructure fund managed by SEP.
The portfolio ranges from single-turbine sites across the Orkney and Shetland Islands to utility-scale turbines in Curraghderrig, Ireland and the Port of Tilbury in London.
Peter Bachmann, Peter Bachmann, a director in SEP’s technology infrastructure team, said: “We are pleased to conclude this sale to PiP.
“Over the last four years, we have added significant value to the portfolio through active management and a hands-on approach.
“We believe this is the appropriate time for our fund to exit and we wish PiP success in the future.”
The wind farm disposal by SEP follows the recent high-profile sale of another of the firm’s energy infrastructure investments, Indigo Pipelines.
Joe Davis of PiP said: “PiP is delighted to have acquired this portfolio as it further provides our pension scheme investors with long term, inflation-linked cash flows to be used to help meet their pension obligations.”