- Second acquisition made by €340 million Foresight Energy Infrastructure Partners
- Operational plants increase Foresight’s European wind portfolio to 800MW
- Foresight has over 2.5GW of renewable generating capacity from its Solar, Wind and Bioenergy portfolios across Europe and Australia
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LONDON, 24 August 2020: Foresight Group LLP (“Foresight”), the leading independent infrastructure and private equity investment manager, is pleased to announce the second investment made by Foresight Energy Infrastructure Partners (“FEIP”), into two operational wind farms located in the Castile and León region of Spain. The 27-turbine portfolio represents Foresight’s second acquisition from subsidiaries of wpd AG (“wpd”), one of Europe’s leading wind energy developers and operators, following the acquisition of a 50MW German wind portfolio in December 2018.
The wind farms were commissioned in Q4 2019 having been developed, financed and constructed by wpd and comprise 27 Siemens Gamesa Renewable Energy (“SGRE”) G-132 3.465MW wind turbine generators, with SGRE also providing long term O&M services. The portfolio additionally benefits from ongoing operational management services provided by wpd windmanager, a wholly-owned subsidiary of wpd. Revenues are underpinned by a 10-year, fixed price PPA with Statkraft, with further revenue protection resulting from participation in the second and third Spanish tender rounds of the Spanish support scheme for renewable energy.
The acquisition consolidates Foresight’s position as a leading energy infrastructure investor with wind assets under management now 800MW and total renewable generating capacity of 2.5GW.
FEIP recently announced third party EU Taxonomy validation for its 231MW Skaftåsen windfarm in central Sweden, and it is intended that all FEIP investments ultimately comply with EU Taxonomy rules.
Richard Thompson, Partner at Foresight and Co-manager of FEIP said: “We are delighted to have completed this significant addition to our portfolio which delivers geographic diversification and secure revenue streams for our investors. We plan to secure independent EU Taxonomy verification for this portfolio which will make a visible contribution to the EU’s goal of Net Zero by 2050.”
Foresight is working towards a second close for FEIP which is on target for €500 million.
For more information please contact:
Ben Thompson, Foresight Group firstname.lastname@example.org | +44 (0)20 3667 8155
Notes to Editors
About Foresight Group LLP (“Foresight”)
Foresight is a leading independent infrastructure and private equity investment manager which has been managing investment funds on behalf of institutions and retail clients for more than 36 years.
Foresight has €7.2 billion of Assets Under Management, of which over €4.9 billion relates to renewable energy infrastructure. Foresight currently manages more than 250 renewable generation assets globally, with a total generating capacity of 2.5GW.
Foresight manages over 150 solar plants and has more than 1.4GW of solar generation assets under management around the world.
Foresight has some 800MW of wind generation assets across the UK, France, Germany, Spain and Sweden of which 665MW are operational.
Foresight manages over 40 bioenergy and waste projects processing 1.5 million tonnes of waste every year, having mobilised more than £1 billion of capital investment into the sector.
In addition, Foresight manages 210MW of reserve power assets and three utility scale battery storage projects providing 46MW of enhanced frequency response services to National Grid.
Foresight is headquartered in London with regional offices in Manchester, Nottingham, Edinburgh, Cambridge, Milton Keynes, Leicester and Guernsey and international offices in Sydney, Rome, Madrid, Luxembourg and Seoul.
About wpd AG
wpd develops and operates onshore and offshore wind farms around the world, and is actively engaged in 21 countries; the head office is in Bremen.
In the last 20 years, the company has realised projects with 2,257 wind turbines and an output of 4,723 MW in total.
wpd is currently planning projects in the order of 8,725 MW onshore and over 7,250 MW offshore around the world.