The development rights to the wind farm were acquired from E.ON in September 2016 and the Fund committed c.£80m to the development of the project. The wind farm has a 50MW capacity and comprises 25 x 2MW Gamesa turbines. The power is sold under a 15-year agreement with the Danish trading house NEAS (a 100% subsidiary of the Centrica Group). The realisation of Afton Wind Farm has achieved a strong investment return for the Fund over its 25 month holding period.
InfraRed Capital Partners Limited (InfraRed)
InfraRed Capital Partners is a leading global investment manager focused on infrastructure and real estate. It operates worldwide from offices in London, Hong Kong, New York, Seoul and Sydney. With around 130 professionals it manages in excess of US$10bn of equity capital in multiple private and listed funds, primarily for institutional investors across the globe.
Since its inception, InfraRed has launched 17 funds, including two companies listed on the London Stock Exchange: HICL Infrastructure Company Limited and The Renewables Infrastructure Group (TRIG), both of which are members of the FTSE 250. To date, InfraRed has realised six funds, demonstrating its ability to create real value for its stakeholders.
InfraRed has been investing in the Infrastructure market for over 20 years and is one of world’s largest managers of social and transportation infrastructure projects. InfraRed has evolved its business from principally managing PPP projects at its inception to a diversified and international investment business, with around 80 infrastructure investment professionals, managing over 200 investments in PPP projects, renewable energy, regulated and economic infrastructure businesses.
InfraRed implements best-in-class practices to underpin asset management and investment decisions, promotes ethical behaviour and has established community engagement initiatives to support good causes in the wider community. InfraRed is a signatory of the Principles of Responsible Investment and its infrastructure business has been awarded the highest rating.
Further details can be found on InfraRed’s website, www.ircp.com.