The Infrastructure team, part of the international business of Federated Hermes, is pleased to announce that Hermes Infrastructure Fund I (“HIF I”) has sold a 50% interest in Braes of Doune wind farm to Greencoat UK Wind PLC ("UKW"), for a consideration of £48.1m.
HIF I acquired the 50% interest in Braes of Doune from Centrica PLC in 2013. UKW now owns 100% of the wind farm, having acquired its original 50% stake in March 2013.
Hamish de Run, Head of the Infrastructure team, commented, “Braes of Doune has delivered upon our original investment thesis, following our early entry as an onshore wind investor in 2013. The investment has had a positive impact on ESG targets including contributing towards energy transition in the UK and driving responsible investment outcomes. We are delighted to have achieved a successful realisation for our clients.”