RPMI Railpen, which manages £30 billion ($38 billion) of assets on behalf of the railways pension schemes, has acquired an operational wind farm on the west coast of Scotland in its second direct investment in the U.K. renewable energy sector.
Railpen purchased 90 percent of Carraig Gheal Wind Farm in Argyll and Bute from GreenPower International, an independent U.K. renewable-energy developer. GreenPower will retain a 10 percent shareholding in Carraig Gheal Wind Farm and will continue to provide ongoing operations and commercial management services to the project.
Both parties agreed not to disclose the terms of the transaction.
The wind farm, consisting of 20 2.3-megawatt turbines, has been operational since 2013 and benefits from support under the Renewables Obligation scheme. The farm has a total capacity of 46 megawatts, enough to power 32,000 households with clean, renewable energy.
This purchase adds to Railpen’s direct investments in the secto
