Private equity firm, Terra Firma, has announced that investor J.P. Morgan Asset Management is purchasing the Infinis Group‘s portfolio of onshore wind assets. This portfolio is one of the largest independently owned operating wind portfolios in the UK.
It includes 343 MW generating capacity across 19 sites, and a 66-MW site that is expected to become operational by the end of February 2017. The sale is expected to close by early in the second quarter of 2017.
“Today there is strong demand in the market for cash yielding, infrastructure assets of scale, and Infinis’ onshore wind portfolio is one of the few platforms of scale in the UK that has the operational capability for further growth,” said Guy Hands, Chairman and Chief Investment Officer of Terra Firma.
The Infinis Group began as the non-core energy division of the U.K.’s Waste Recycling Group, which Terra Firma acquired in 2003. This transaction follows the sale of the Infinis Group’s landfill gas assets to 3i Infrastructure plc in December 2016.
“The acquisition continues our investment momentum in renewables, complementing the existing investment base, and increases our renewables energy production capacity to over 3,200 MW,”said Matthew LeBlanc, Chief Investment Officer, J.P. Morgan Asset Management. “We are excited to partner with the management team and our other renewables businesses to continue to grow a truly pan-European renewables independent power producer.”