Energiekontor and Capital Dynamics, an independent global private asset management firm, announced the acquisition of a 100 percent equity stake in the Sorbie onshore wind project from Energiekontor AG. Sorbie, a 13 MW shovel-ready, subsidy-free onshore wind project located in North Ayrshire, Scotland, represents Capital Dynamics' second acquisition of 2021 from Energiekontor and follows the 50 MW Longhill wind farm transaction in March.
Sorbie is estimated to reduce greenhouse emissions by over 0.7 million metric tons during its lifetime - the equivalent of emissions produced by over 150,000 passenger vehicles driven for a year or the electricity to power over 110,000 homes for a year. The project will commence construction in July 2021 and is expected to achieve commercial operations in the second half of 2022. Once operational, the project will benefit from Capital Dynamics' Clean Energy Infrastructure subsidiary platform, Arevon Energy, and Energiekontor's longstanding operations management experience and optimisation support.
"We are delighted that our multi-discipline collaboration with Energiekontor has yielded a second successful transaction in 2021, and together we look forward to bringing this critical UK infrastructure to fruition," said Barney Coles, Managing Director, Clean Energy Infrastructure at Capital Dynamics. "This year Scotland plays host to the COP 26 UN Climate Change Conference; we are proud to contribute to the region's pursuit of meeting ambitious net-zero carbon targets and to support the UK's post-pandemic 'green recovery' plan."
"We have always considered our Scottish pipeline, which we have built up over the last few years, to be of great value. With the sale of the Sorbie wind farm project the value has been confirmed a second time," explains Peter Szabo, CEO of Energiekontor. "We are delighted about the renewed cooperation with such a renowned investor like Capital Dynamics."
The parties have agreed not to disclose the purchase price.
