UK pension fund RPMI Railpen has announced its second direct investment in the Scottish renewable energy sector with a purchase of a 90% stake in the 46MW Carraig Gheal Wind Farm from GreenPower International Ltd.
This deal follows Railpen’s acquisition of Tralorg Wind Farm in South Ayrshire, Scotland in 2019.
Referring to the deal as a long-term value for scheme members, Lewis Vanstone, Deputy Portfolio Manager of Railpen’s Long-term Income Fund, said: “The project’s operating track record, as well as its sustainable, long-dated and asset-backed income characteristics provide the exact qualities that are attractive for our Long-term Income Fund.”
With the total capacity of 49MW, the wind farm can provide up to 32,000 households with clean and renewable energy.
Meanwhile, GreenPower will retain a 10% shareholding in Carraig Gheal Wind Farm and will continue to provide operational and commercial management services to the project.
Hailing Railpen as partners at Carraig Gheal, Rob Forrest, CEO, GreenPower International Ltd, said: “We look forward to working with them on this and other opportunities in the future, as we help to deliver a zero carbon economy.”