Three pension and insurance clients of Aberdeen Standard Investments are financing the Scottish Whiteside Hill Wind Farm with £63 million ($79 million) in long-term debt.
The wind farm has an approved export capacity of 27 megawatts and is accredited under the U.K. government’s ROC program, an initiative that encourages electricity generation from renewable sources.
“We are committed to investing in clean energy projects that contribute to the U.K.’s renewable energy targets,” said Alex Campbell, investment director at Aberdeen, in a statement.
Located in Dumfries and Galloway, the wind farm is owned by investors in funds managed by Capital Dynamics, under its Clean Energy Infrastructure investment strategy. The project will be operated by a subsidiary of the GE group, which also manufactured and installed the turbines.
With 4.7 gigawatts of gross power generation across more than 100 projects, Capital Dynamics is one of the largest specialized renewable energy investment managers in the world.
“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,” said Campbell.
