Switzerland-based asset manager Capital Dynamics has bought two wind farms in the UK with a combined capacity of 21.1MW.
The projects were acquired from Airvolution Energy, the developer with which CapDyn agreed a funding deal in 2014 for over 140MW of onshore wind sites. The latest acquisitions include the 8.6MW Airfield project and the 12.5MW Red Gap wind farm, both of which have now begun operating.
CapDyn declined to disclose the size of the deal or which vehicle bought the two assets, although it confirmed funding came from one of its Clean Energy and Infrastructure funds.
CapDyn said Airfield and Red Gap are two of the last sites to secure backing from the UK’s Renewables Obligation subsidy regime following its closure this year. The company added it was confident of future developments despite uncertain policies surrounding onshore wind projects in the UK.
“We look forward to continuing to leverage our expertise in developing and managing renewables investments for the long term as we enter a subsidy-free world,” said Simon Eaves, head of the European Capital Dynamics CEI business.
Airfield and Red Gap bring CapDyn’s UK wind portfolio to 16 projects, six of which were added within the last year. The company’s wider portfolio has 3.1GW under management across North America and Europe and is spread across solar, wind, biomass and gas-fired sites.