Aviva makes wind farm investments

Aviva Investors, the global asset management business of Aviva Plc, has taken a 49% stake in a portfolio of UK onshore wind farms from Fred. Olsen Renewables Limited.

It is one of the largest single acquisitions made by its infrastructure platform to date.

The portfolio includes two operational assets: Crystal Rig III Limited, which has six turbines and Brockloch Rig Windfarm Limited which has 30 turbines. Both are located in Scotland.

Fred. Olsen Renewables will continue to provide asset management services to the projects and be responsible for the day–to-day running of the wind farms.

The acquisitions were made on behalf of the Aviva Investors Infrastructure Income Fund, which invests in a range of UK infrastructure sectors, focusing on low carbon infrastructure – primarily energy and energy efficiency – and social infrastructure sectors.

Sean McLachlan, senior director, infrastructure, at Aviva Investors, said: “We have seen strong interest in this type of investment from clients looking for secure and long-dated income streams.”

©2018 funds europe

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