UNITED KINGDOM: IMs out for Vantage Infra onshore wind assets

Vantage Infrastructure has launched a first round of bidding for its circa 80 MW of net UK onshore wind capacity.

The investor, formerly known as Hastings Funds Management until a 2018 buyout by Northill Capital, acquired the projects and manages them on behalf of NatWest Pension Fund.

Having warmed the market with a teaser in mid-May, the fund kicked off a first round of bidding for the projects with the circulation of an IM last week and will take non-binding offers in mid-September, according to market sources.

The group in 2015 completed the acquisition of four wind farms from InfraRed Capital Partners, with the projects expected to form the bulk of the assets for sale.

Its holdings include a 50% stake in the 52.5 MW Pant Y Wal wind farm in South Wales, a 50% stake in the 22.5 MW Mynydd Bwlffa project in South Wales (both jointly owned with Pennant Walters), the 10 MW Reaps Moss scheme in Lancashire and the 37 MW Crook Hill project also in Lancashire.

The wind farms were brought online between March 2013 and November 2015 and are understood to receive ROC support for the first 20 years of operation.

KPMG (financial) is advising Vantage on the sale.

*This story was originally published exclusively for NPM Europe subscribers.

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