Global infrastructure investor Resonance Asset Management has acquired four wind farms in Scotland through its second fund Resonance British Wind Energy Income II Limited (RBEIF II).
The four investments totalled £15.6m and all have an exporting capacity of 500kW each having been de-rated from either 800kW or 900kW to benefit from higher feed-in tariffs (FITs).
The wind farms are Newton of Culver, North Balnoon, Rattar and Bonerbo.
All four utilise single Enercon turbines and benefit from 15-year operations and maintenance agreements.
RBEIF II is a £100m fund and actively pursuing opportunities to invest a further £35m in onshore wind farms in the UK.
The fund announced its first investments in November 2019: the acquisitions of a £42m portfolio of 30 individual turbines in Northern Ireland and a single turbine in Aberdeenshire.
RBEIF II aims to provide institutional investors with the benefits of a predictable and projectable long-term, inflation-linked sterling income from an unlevered and physically diversified operating portfolio.
Resonance founder and chief executive Nick Wood said: “These wind farm investments mark an important milestone for Resonance bringing the total number of wind turbines held by RBEIF II to 35. Combined with RBEIF I’s assets, Resonance now has 55 turbines across two investment funds.”
Wood added: “As demand for cleaner sources of energy in the UK increases and we shift towards a circular economy, the opportunities to invest in wind energy and other crucial renewable energy projects is set to continue to increase.
Resonance has a strategic distribution arrangement with Fidante Partners to provide a range of support services encompassing operational, financial and client relationship management services.