UK-based renewable energy projects developer Blue Energy has acquired a portfolio of 177MW wind power generation assets from hg Capital.
The assets were acquired by the purchase of wind farm developer Ridgewind for a total consideration of £250m.
Ridgewind is currently overseeing 45MW in late stage construction projects, 132MW under planning permission while several projects are in the pipeline.
Blue Energy will continue to advance the company’s existing projects, with plans to build the development portfolio under the integrated Blue Energy banner.
Blue Energy CEO Chris Dean remarked that the transaction accelerated the company’s growth trajectory and reinforces its commitment to the UK onshore wind sector.
"Blue Energy has ambitious growth plans and we aim to progress further transactions of a similar nature in the UK wind sector this year," Dean added.
"RidgeWind gives us a strong portfolio, and an experienced development team who have pioneered innovative community benefit schemes, which are so important in winning local support for wind farms."
Funds for the acquisition were provided by the company’s shareholders and banking major Santander.