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Ancala Partners acquires 82MW wind farm in Cyprus

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Ancala Partners (Ancala), an independent infrastructure investment manager, has acquired the largest wind farm in Cyprus with an installed capacity of 82MW. Terms of the transaction have not been disclosed.Operational since 2011, the Orites wind farm comprises 41 Vestas V90-2MW wind turbines and produces around 5 per cent of Cyprus’s entire electricity generation capacity. All electricity generated is exported to the grid through a long term Power Purchasing Agreement (PPA) with Electricity Authority of Cyprus (EAC), the government-backed operator responsible for transmission, distribution and supply across the island.  The asset has a fixed rate tariff with the Cypriot government until 2031.

 
The asset, which has been developed and constructed by Platina Energy Partners and a local entrepreneur, uses well-established, low-complexity technology comprising turbines installed and maintained by the world’s largest manufacturer, Vestas.  
 
The acquisition was made by funds managed by Ancala.
 
Karen Dolenec, Partner, Ancala Partners, says: “We are delighted to have acquired this wind farm. The scale and quality of this asset means it will play an important role in further diversifying our investors’ portfolios. This transaction highlights our expertise in identifying and realising attractive investment opportunities across Europe. We look forward to exploring additional opportunities to support Cyprus in its transition to a more sustainable and self-sufficient energy sector”.
 
Adrien Pinsard, Partner, Platina Energy Partners, says: “Orites has been an excellent asset in our portfolio, the result of a successful cooperation with our local partner, but also with the regulator and the local authorities in general. When it was built, the windfarm was by far the largest renewable plant in the Republic of Cyprus, thereby constituting a landmark transaction at the time. We are proud to have been associated with the creation of renewable energy in the island and wish Ancala continued success with this quality asset.”
 
 

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