SEP Sells Wind Farm Portfolio to Pensions Infrastructure Platform

Scottish Equity Partners (SEP) 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.

Commenting on the transaction, 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. Indigo, the third largest independent gas transportation network in the UK with approximately 180,000 gas connections, was purchased by independent infrastructure asset manager Arjun Infrastructure Partners in February.
SEP was advised on the transaction by solicitors, Pinsent Mason. PiP was advised on the transaction by Eversheds Sutherland (legal), IDCM (debt), Mazars (financial), Everoze (technical), JLT (insurance) and DWPF (modelling).

Source: SEP press release

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