Infinergy and Sovereign Renewables form partnership on FiT portfolio
Infinergy and renewables investors Sovereign Renewables Ltd are pleased to announce their partnership in Infinergy’s 500kW portfolio, comprising single wind turbine developments in the UK under the Feed in Tariff scheme.
To start off Sovereign have acquired two of Infinergy’s consented sites; Burnbrae Farm in South Lanarkshire and White Lion in Carmarthenshire. In addition a framework agreement has been put in place which provides a platform for further cooperation. Infinergy aims to deliver between 5-10 sites with a total investment value of up to approximately £20m.
Infinergy will provide construction and operation services for the projects, further strengthening its construction and asset management activities.
Esbjorn Wilmar, Infinergy’s Managing Director said: “After all the hard work that has gone into these two projects it is exciting to see them move on to the next stage. I am delighted that Sovereign have come on board to invest in our wind turbines and I hope that this will mark the start of a mutually beneficial cooperation between our two companies.”
Andrew Hobley of Sovereign commented: “This transaction underpins Sovereign’s commitment to the deployment of renewable energy in the UK and our growing position in this dynamic sector. We are looking forward to further expand our relationship with Infinergy on future transactions.”
The proposed wind turbine model is the 500kW Dutch EWT Direct Wind. Infinergy introduced EWT wind turbines to the UK by installing three EWT 900kW machines at Castle Pill Wind Farm near Milford Haven.
Infinergy was represented by LSE Limited who previously secured financial close for their Castle Pill and Ferndale wind farms in Wales.
The aim is to have the first projects operational before April 2014.
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