Bluefield Solar, an income fund focused on acquiring and managing U.K.-based renewable energy and storage projects, has entered into a conditional sale and purchase agreement to acquire a portfolio of 109 small-scale onshore wind turbines for £60 million ($83 million).
The seller is Arena Capital Partners, a large-scale owner-operator of small- to medium-scale wind turbines.
The acquisition will provide Bluefield with the opportunity to repower 17 of the wind turbines, which are in Northern Ireland. Upon repowering all 17 of the turbines, the generation of the wind portfolio is expected to increase by 40 percent, and the company will have the potential to further invest £35 million ($49 million) in the portfolio. As such, the total potential investment in the wind portfolio could increase to £95 million ($131 million).
Completion of the acquisition would provide Bluefield with a diverse geographical presence in the U.K. onshore wind market with projects acros
