UK-based insurance company Aviva has acquired four English wind farms, totalling up 60.5MW from independent renewable energy company RES.
Through this transaction Aviva takes 100 per cent stake in three operational wind farms, the 18MW Den Brook project in Devon, the 15MW Jack's Lane site in Norfolk, and the 10MW Woolley Hill facility in Cambridgeshire. The fourth project, the 17.5MW Turncole in Essex, which is under construction, will have seven Nordex N100 turbines and it's expected to start comissioning by the end of the year.
Under the terms of the transaction, RES will continue operating and managing the four wind projects. Further details on the sale have not yet been disclosed.
According to sources, RES western Europe director Rachel Ruffle said:
"RES is delighted to be strengthening our relationship with Aviva with this significant acquisition, which demonstrates the attraction of renewable energy projects in the UK to leading investors in UK energy infrastructure.
“We now look forward to completing the projects currently under construction and managing the wind farms' operations, as part of our ever growing asset management portfolio of onshore wind and solar projects that now stands at 2.2GW globally.”