Aviva snaps up four UK wind farms in major renewables investment

Aviva has reportedly acquired four English wind farms, snapping up 60.5MW of capacity in one of the largest renewable energy investment yet from the investment giant. 

ReNews reported this week that the investment arm of Aviva had acquired the projects from renewable energy developer RES Group for an undisclosed sum.

BusinessGreen understands further details on the deal are due to be announced on Monday.

The investment sees Aviva take a 100 per cent stake in three operational wind farms, the 18MW Den Brook project in Devon, the 15MW Jack's Lane site in Norfolk, and the 10MW Woolley Hill facility in Cambridgeshire.

In addition, the company has snapped up the 17.5MW Turncole project in Essex, a seven turbine project which is currently under construction and is due to be commissioned by the end of the year.

Under the terms of the sale, RES will continue to operate and manage the four projects.

ReNews also reported that RES is lining up an unnamed fifth wind farm for sale to Aviva.

"RES is delighted to be strengthening our relationship with Aviva with this significant acquisition, which demonstrates the attraction of renewable energy projects in the UK to leading investors in UK energy infrastructure," RES western Europe director Rachel Ruffle was quoted as saying.

"We now look forward to completing the projects currently under construction and managing the wind farms' operations, as part of our ever growing asset management portfolio of onshore wind and solar projects that now stands at 2.2GW globally."

Aviva had not responded to a request for comment at the time of going to press.

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• Topics
• Wind
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• insurance