Aberdeen Standard Investments Infrastructure Debt Team has provided over GBP63 million of long-term debt to finance an operational wind farm in south-west Scotland.
The Whiteside Hill Wind Farm in Dumfries and Galloway is owned by investors in funds managed by Capital Dynamics under its Clean Energy Infrastructure investment strategy. Capital Dynamics is one of the largest specialised renewable energy investment managers in the world with 4.7 GW of gross power generation across more than 100 projects.1 The wind farm has an approved export capacity of 27MW and is accredited under the UK Government’s ROC programme. The project will be operated by a subsidiary of the GE group, which also manufactured and installed the turbines.
The investment was financed by three pension and insurance clients of Aberdeen Standard Investments, providing them with a long-term reliable income stream from a clean energy investment.
Alex Campbell, Investment Director at Aberdeen Standard Investments, says: “We are committed to investing in clean energy projects that contribute to the UK’s renewable energy targets. With a highly experienced sponsor and operator, this investment will also provide our investors with stable and predictable long-term returns, helping them to match their long-term liabilities.”
Aberdeen Standard Investments was advised by Osborne Clark (legal), Lockton (insurance) and Everoze (technical). Capital Dynamics was advised by Burges Salmon (legal). The note issue was arranged by IDCM Limited.