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UK renewables outfit has acquired two operational assets from GCP Infrastructure Investments OnPath Energy has added two operational wind farms to its UK fleet. The company has acquired the Milton Keynes wind farm in Buckinghamshire and the Pates Hill wind farm in West Lothian, Scotland, from GCP Infrastructure Investments. Both wind farms have been operational since 2010 and comprise seven Vestas V-90 2.0MW turbines with a combined installed capacity of 28MW. The community benefits packages linked to each wind farm will be fully maintained under their new ownership, with OnPath now looking at ways in which local involvement in each community might be enhanced. The deal represents OnPath Energy’s first acquisition since its own acquisition by Brookfield Asset Management in December 2023 through the Brookfield Global Transition Fund 2. OnPath Energy (formerly Banks Renewables) now owns and operates 12 wind farms across Scotland and England. Richard Dunkley, CEO at OnPath Energy, said: “As we continue to develop our own renewable generation projects from first principles, we will also be looking to identify other opportunities at every stage of the lifecycle, from pre-construction right through to operational wind farms and project repowering. “The Milton Keynes and Pates Hill Wind Farms represented a strong fit with our development framework and their acquisition provides a positive outcome for all concerned, including the local communities that will continue to benefit directly from the revenues that these wind farms generate.” Philip Kent, Chief Executive Officer at Gravis Capital Management, the Investment Adviser to GCP Infrastructure Investments, added: GCP invested in the Milton Keynes and Pates Hill wind farms in 2017. “Since, these assets have provided attractive returns for GCPs shareholders, generated a significant amount of renewable energy to support UK decarbonisation, and have contributed positively to the local area.” |
