Hermes GPE Infrastructure acquires majority interest in Fallago Rig Wind Farm
Funds managed by Hermes GPE Infrastructure have agreed to acquire a majority interest in the 144 MW Fallago Rig Wind Farm located on the Roxburghe Estate in Scotland from EDF Energy and EDF Energies Nouvelles.
Fallago Rig is a 144MW, 48 Vestas turbine onshore wind farm located 35km southeast of Edinburgh in the Scottish Borders region of Southern Scotland. The wind farm is the fifth largest onshore wind farm in the UK and is a significant part of the UK’s electricity generation infrastructure. Construction took place in 2012, with generation commencing in January 2013 followed by full production in April 2013.
EDF Energy and EDF Energies Nouvelles will continue to own equity in the wind farm and EDF Energy Renewables will continue to manage the site by providing operations, maintenance services and asset management. Fallago Rig has a longterm Power Purchase
Agreement in place with EDF Energy which guarantees the sale of generated electricity from the wind farm over a fixed period of time.
Peter Hofbauer, head of Infrastructure at Hermes GPE, commented:
“The renewable energy sector is a key area of interest for us, and Fallago Rig has very attractive investment characteristics. Our investment strategies focus on UK infrastructure assets that have a natural linkage to UK inflation, benefit from clear regulatory support mechanisms, with long-term stable and predictable cash flows, and solid yield characteristics.”