London, 6 May 2020 - Resonance Asset Management (‘Resonance’), an infrastructure investor focused on mid-scale circular and sustainable economy investments, announces the completion of a further four wind farm investments out of its second wind fund: Resonance British Wind Energy Income II Limited (‘RBEIF II’). The four investments totalled £15.6m and all have an exporting capacity of 500 kW each having been de-rated from either 800 or 900kW to benefit from higher feed-in tariffs (FITs).
The four wind farms are all based in Scotland: Newton of Culver, North Balnoon, Rattar and Bonerbo. All four assets utilise single Enercon turbines and benefit from 15-year operations and maintenance agreements (EPKs).
RBEIF II is a £100m fund and actively pursuing opportunities to invest a further £35m in onshore wind farms in the UK. REBIF II is targeting small scale operating onshore wind projects in the UK, accredited under either the FiT or RO regimes. The Fund announced its first investments in November 2019: the acquisitions of a £42m portfolio of 30 individual turbines in Northern Ireland and a single turbine in Aberdeenshire.
The Fund aims to provide institutional investors with the benefits of a predictable and projectable long-term, inflation-linked sterling income from an unlevered and physically diversified operating portfolio.
Resonance were one of the early movers in investment in wind energy, having deployed its first wind fund in 2013 at a time when pension funds were sceptical of renewables and UK Government subsidies. The firm’s investments enable and benefit from the transition to clean energy.
Nick Wood, CEO and Founder of Resonance, commented: “These wind farm investments mark an important milestone for Resonance bringing the total number of wind turbines held by RBEIF II to 35. Combined with RBEIF I’s assets, Resonance now has 55 turbines across two investment funds.”
“As demand for cleaner sources of energy in the UK increases and we shift towards a circular economy, the opportunities to invest in wind energy and other crucial renewable energy projects is set to continue to increase. We actively seek out new pioneering investment opportunities ahead and away from the crowd to give our institutional investors access to better risk-adjusted income-based returns.”
“We are committed to leaving the environment in better shape than before our investment with all of our wind farms investments making a net positive contribution to the local and global environment by reducing greenhouse gas emissions.”
Resonance has a strategic distribution arrangement with Fidante Partners to provide a range of support services encompassing operational, financial and client relationship management services.