The Foresight Group has bought 50MW of German wind, in partnership with Korea Investment Securities.
The investment management firms teamed up to acquire the 45MW Krackow and 5MW Seubersdorf wind farms, located in Mecklenburg and Bavaria respectively.
The deal, which is Foresight Group’s first wind acquisition in Germany, has now been completed.
The two wind farms have been bought from a subsidiary of wpd, one of Europe’s largest wind energy developers and operators.
The facilities, both of which are around three years old, will continue to benefit from ongoing operational management services provided by wpd subsidiary windmanager and receive 20-year fixed revenues.
Bernard Fairman, Chairman of Foresight, said: “This significant acquisition further strengthens Foresight’s diversified energy infrastructure portfolio of renewable generation technologies and supporting infrastructure.
“We are pleased to have entered the German wind market, to continue to partner successfully with Korean investors and to have consolidated Foresight’s market-leading renewables investment presence in Europe.”