Platina partnered with Rabobank and 123 Venture to fund the acquisition.
Platina Energy Partners acquires 54 MW wind farm in Ireland
Date
September 29, 2014
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Platina Energy Partners, the renewable power arm of Platina Partners LLP, has announced the acquisition of the Slieve Rushen wind farm in Northern Ireland from Quinn Insurance Limited after a competitive tender process managed by Investec.
According to the Irish Times, the deal could be valued at £100 million (€127 million).
Quinn Insurance is currently in administration. The administrators of Quinn Insurance have now sold most of its non-core assets with the exception of a building in Dublin city centre and a small number of apartments.
One of the largest single site wind assets on the island of Ireland, Slieve Rushen has an installed capacity of 54MW, through 18 3MW wind turbine generators. The Slieve Rushen Wind Farm is located in County Fermanagh, Northern Ireland with a capacity enough to power over 30,000 homes. The project was commissioned in April 2008.
Thomas Rottner, Managing Partner of Platina, said:
"I am delighted to have secured such a high quality asset. Having last year successfully completed the full investment cycle of our first two renewable energy Funds, Platina has an outstanding track record of successful and sustained investment in our projects. Slieve Rushen will be no exception."
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