UK-based Octopus Investments has acquired four wind farms in the UK that generate a total amount of 149MW of clean energy from Blue Energy.
Financial details related to the transaction have not been disclosed. These four wind farms are claimed to generate enough energy to power about 125,000 UK households.
The four wind farms include Blue Energy’s flagship Beinneun Project (109MW), the Cour (21MW), Grange (12.3MW) and Hillhead of Auquhirie (6.9MW) wind farms.
As per the acquisition agreement, Blue Energy will continue to manage the four wind farms on behalf of Octopus Investments.
The news follows Octopus’ recent announcement of closing £300m in institutional fund to invest in UK renewable energy power plants. Recently, It has also raised a £484m of debt to finance solar assets in the UK.
Octopus has a portfolio of more than £2.5bn assets under management in solar and onshore wind, biomass, landfill gas and gas-fired reserve power projects.
Octopus’ Energy Investments team’s one of the directors Chris Gaydon 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.”
Blue Energy CEO Christopher Dean said: “We have been working with Octopus for some time on a variety of projects and are delighted that we will continue to work with them following this acquisition.
“We remain fully committed to the UK renewables sector and continue to be acquisitive and supportive of appropriate development opportunities.”
Image: Octopus Investments acquires four wind farms in the UK. Photo: Courtesy of KatyaRUB/FreeImages.com.