Ancala Partners has acquired the largest wind farm in Cyprus, an island country in the Mediterranean, for an undisclosed price.
The operational Orites wind farm comprises 41 Vestas V90-2MW wind turbines, has an installed capacity of 82 megawatts and produces around 5 percent of Cyprus’s entire electricity generation capacity.
The electricity from the wind farm is exported to the grid through a long term power-purchase agreement with Electricity Authority of Cyprus, 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, according to Ancala.
“The scale and quality of this asset means it will play an important role in further diversifying our investors’ portfolios,” said Karen Dolenec, partner at Ancala Partners. “We look forward to exploring additional opportunities to support Cyprus in its transition to a more sustainable and self-s
