Resonance Asset Mangement completes wind farms acquisition
Resonance Asset Management, and alternative manager specialising in real assets, has completed an acquisition of four wind farms following institutional investor commitments of some $100m in the past 10 months.
The acquisition was made through the Resonance British Wind Energy Income Fund, which is participating in the consolidation of the SME wind farm sector in the UK – which encompasses generating capacities of between 2MW-10MW.
Income is generated via the price of wholesale electricity in the UK market, as well as subsidies from the so-called Renewable Obligation regime.
Nick Wood (pictured), former founder and CEO of Man Environmental, and who started Resonance, said: “We’ve had a defining 2013, having seen an increase in commitments to $100m from institutional investors. With a combined five acquisitions under our belt, totalling 23.9MW in just one year, we’re actively considering further investments and continue to see attractive risk adjusted returns in this area for our investors. We very much look forward to further advancing our position in 2014.”