Platina Energy sells 70-MW wind portfolio in UK
Platina Energy Partners has sold a 70 MW portfolio of five operating wind farms to entities managed by Gravis Capital Management for approximately £52 million (US$ 69,30 million) plus the assumption of the existing debt.
The five wind farms are well spread geographically and located in England, Scotland and Northern Ireland. The plants were developed and built by Platina Partners and connected to the grid between 2006 and 2010 (8.2 years average life). They have an excellent operational track record and will benefit from Renewable Obligation Certificates (ROC) for another 12 years on average. The long-term non-recourse project finance with international banks and financial institutions will remain in place.
DLA Piper acted a legal advisor while Augusta & Co supported as financial advisor in the transaction.
Adrien Pinsard, Partner at Platina, commented:
"We are delighted to be selling these assets to Gravis. This is a portfolio that we have developed, constructed and operated over a number of years. We also refinanced some of the assets last year. This is typical of our hands-on investment model and a good illustration of how we create value for investors.
This sale comes shortly after the disposal of a portfolio of Italian solar assets. In total, we are returning over €100m to investors, some of this money will be redeployed in Platina’s recently announced European solar yield platform."
Country news
-
-
November 27, 2017
Infracapital closes its first greenfield fund
Infracapital, the infrastructure equity investment arm of M&G Investments, has successfully reached a final closing of its latest fund, Infracapital Greenfield Partners I LP, with total commitments of £1.25 billion (US$ 1,65 billion).
Read more -
November 24, 2017
Danish pension funds close on US$2.7B acquisition of Walney Extension offshore wind project
Danish pension funds, Pensionskassernes Administration (PKA) and PFA Pension have close £2 billion (US$2,7 billion) acquisition of 50% stake in 660 MW Walney Extension offshore wind farm.
Read more -
November 21, 2017
ESB plans 800 MW of Scottish clean energy projects from new office
ESB has officially opened an office at George Street Glasgow today, from where it will continue to develop high quality renewable energy generation projects in Scotland.
Read more -
November 13, 2017
Octopus expands solar portfolio refinancing
Octopus Investments has expanded the landmark £484 million solar portfolio refinancing it closed earlier this year, further expanding the biggest deal of its kind in the European solar sector.
Read more -
November 08, 2017
Iona Capital announces the first close of Iona Environmental Infrastructure LP 3
Iona Capital has announced the first close of the Iona Environmental Infrastructure LP 3, a £250 million 15 year limited life pooled investment vehicle.
Read more
