RPMI Railpen acquires Scottish windfarm
RPMI Railpen has made a direct investment into an Ayrshire-based windfarm currently under construction.
The investment manager, which allocates assets for the £30bn Railway Pension Scheme, has acquired Tralorg Windfarm in southwest Scotland from global energy developer BayWa r.e.
The development will see eight 2.35 megawatt turbines installed, with the windfarm expected to be operational next year.
The value of the investment was not disclosed.
Railpen long-term income fund portfolio manager Lewis Vanstone said: "The windfarm's sustainable, long-dated, and asset-backed income characteristics dovetail perfectly with our core investment themes.
"The experience and expertise of our partner BaWa r.e. ensures this deal will be of great long-term value for members."
Operations and commercial management services will continue to be provided by BayWa r.e.'s service business.
BayWa r.e. UK managing director Gordon MacDougall said: "We look forward to developing an ongoing relationship with [RPMI Railpen] and, once the project is operational, ensuring that the windfarm gives it the best return on its investment through provision of ongoing asset management services."
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