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.”