Wind Renewables Income Fund secures GBP80 million follow-on investment

Alpha Real Capital LLP's Wind Renewables Income Fund (WRIF) has secured an GBP80 million (US$111.3 million) follow-on subscription from existing investors including the Towers Watson Secure Income Fund and Yorkshire & Clydesdale Bank Pension Scheme, together with new investment from Croda Pension Scheme.

WRIF invests predominately in sub 5 MW onshore Feed In Tariff (FIT) wind assets in the UK, providing UK pension fund investors with secure inflation-linked income (circa 80%) and with a current duration in excess of 20 years.

In the 12 months to December 2020, WRIF’s fleet of 40 turbines generated over 50 GWh of clean energy which delivered a favorable outperformance against budget, exceeding its power generation target by 4% and EBITDA by over 7%.

WRIF’s ESG credentials are attractive to pension fund investors and Alpha. Once fully invested, the Fund will have deployed GBP180 million (US$250.4 million), which is expected to generate 90 MWh per annum of clean energy which would power approximately 29,000 homes.