RPMI Railpen (Railpen) which manages £30 billion of assets on behalf of UK railway pension schemes, has acquired a wind farm under construction in Scotland for an undisclosed sum.
The Tralorg Wind Farm, in the southwest of Scotland, was bought from global renewable energy developer BayWa r.e.
The farm, scheduled to be operational next year, consists of eight 2.35 megawatt turbines. The firm said it is one of the UK’s few onshore wind farms with a Contract of Difference in place which effectively guarantees the price of energy it generates for 15 years.
It will have an overall capacity of 18.8 megawatts – enough to supply power to up to 15,000 homes.
Lewis Vanstone, deputy portfolio manager of Railpen’s Long-term Income Fund, said: “The wind farm’s sustainable, long-dated and asset-backed income characteristics dovetail perfectly with our core investment themes.”
©2019 funds europe
