FIFTY LAUNCHES ITS UK WIND TURBINE PORTFOLIO WITH NEW ACQUISITIONS TOTALLING c£12 MILLION
Fifty, the recently formed UK on-shore wind turbine investment company, has launched its portfolio with acquisitions together worth in the region of £12 million.
The company has successfully acquired four operational wind turbines, purchased from multiple owners. The sites are in Fifty’s target small-to-medium, 500kW generating capacity and are located in Scotland, the Midlands, Cornwall and Devon.
Peter Glenn, Fifty Founding Partner, said: “We are delighted to have secured our first wind turbines, establishing an excellent platform on which to further develop our portfolio.
“Our successful negotiations demonstrate both the excellent potential of our investment programme and our intention to become the UK’s dominant aggregator in the on-shore wind turbine market.”
“This is a significant step forwards for Fifty and our ambitions to realise valuable returns for our private equity supporters. We have sizeable funds at our disposal for additional investments and we look forward to announcing further wind turbine purchases in the coming months.”
Fifty is backed by a London-based infrastructure fund to acquire small-to-medium wind turbines owned by individuals, businesses and organisations. Its portfolio will accrue the benefits of an index-linked, Government-backed income for its investors in the form of the Feed-in Tariff paid for wind turbine-generated energy, for up to 20 years.
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