Infrared Infrastructure Fund III committed to invest £78 million for a 100 per cent interest in Afton windfarm in the southwest of Scotland.
The fully consented 50MW onshore windfarm is ready for construction and will consist of 25 turbines. The opportunity has been acquired from Eon Climate and Renewables, which developed the project through planning consent and secured grid connectivity.
Infrared has developed over 70 infrastructure projects with an aggregate capital expenditure of US$25 billion. The firm also has over ten years’ experience of developing windfarms.
Infrared’s Bryn Jones said: “Infrared is pleased to add this investment opportunity to its portfolio and utilise its extensive experience in developing wind farms.
“This investment opportunity arose at short notice and our experience in converting late stage development onshore wind farms and managing construction has allowed us to successfully complete the transaction within a matter of weeks with support from Eon.”
Construction is expected to commence in Q4 2016, with full generation anticipated by the end of 2017.