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Terra Firma to sell Infinis onshore wind assets to JP Morgan

CTBR Staff Writer Published 13 February 2017

Terra Firma has announced to divest the onshore wind assets of Infinis Group to institutional investors advised by JP Morgan Asset Management for an undisclosed price.

The European private equity firm’s divestiture is likely to be completed in the second quarter of the year. Upon closing, the transaction marks the sale by Terra Firma of all of the operating assets of Infinis Group.

Infinis Group’s onshore wind portfolio spans 19 facilities with a total capacity of 343MW which is expected to be boosted with a new 66MW facility likely to be commissioned by the end of February.

Terra Firma chairman and chief investment officer Guy Hands said: “Under our ownership, Infinis was transformed from a non-core and largely outsourced unit within a waste management company into one of the UK’s leading independent renewable power generation companies.

“Today there is strong demand in the market for cash yielding, infrastructure assets of scale and Infinis’ onshore wind portfolio is one of the few platforms of scale in the UK that has the operational capability for further growth.”

The assets involved in the deal with JP Morgan do not involve 14 onshore wind sites which are in the development stage and planned to be divested by the renewable power company in due course of time.

JP Morgan Asset Management Infrastructure Investments Group chief investment officer Matthew LeBlanc said: “The acquisition continues our investment momentum in renewables, complementing the existing investment base, and increases our renewables energy production capacity to over 3,200 MW.”

 “We are excited to partner with the management team and our other renewables businesses to continue to grow a truly pan-European renewables independent power producer."

In December last year, Infinis Group’s landfill gas assets were sold to 3i Infrastructure.