London-based Octopus Investments has acquired a 149MW portfolio of UK onshore wind farms – including three in Scotland – from developer Blue Energy.
The company has secured the 109MW Beinneun, 21MW Cour and 6.9MW Hillhead of Auquhirie in Scotland as well as the 12.3MW Grange project in England. The price was not disclosed.
All of the projects in the portfolio are supported by the Renewables Obligation Scheme and will provide enough renewable energy to power around 125,000 households.
Cheshire-based Blue Energy will continue to manage all of the assets and the acquisition will see the existing external debt retained in all four projects.
Octopus Investments is a leading investor in renewable energy in the UK, with over £2.1 billion of assets under management in solar and onshore wind as well as other technologies such as gas-fired reserve power, biomass and landfill gas.
The bulk of its energy assets – south of the border – comprise solar farms, but Octopus already owns a biomass power station in the Central Belt, and a wind and solar farm in Argyllshire and Ayrshire respectively and recently launched its own energy supply business, Octopus Energy.
Chris Gaydon, a director on the Octopus Investment energy team, said: “We are very pleased to have completed this transaction and have enjoyed working with the experienced team at Blue Energy.
“Alongside the UK’s largest portfolio of solar PV and our investments in advanced grid technologies and energy supply, the acquisition of these wind farms marks another major milestone in our ambition to become the industry’s leading generator and supplier of clean energy in the UK.”