The power giant said on Thursday its unit Tenaga Wind Ventures UK Ltd had completed its acquisition of an 80% interest in GVO Wind Ltd and Bluemerang Capital Ltd.
The stakes were purchased from (Georg von Opel and Tanzanite B.V. & Catalin Breaban.
The two companies own the largest Feed-in Tariff (FiT) wind portfolio in the UK, comprising 53 operational onshore medium wind turbines with a total combined capacity of 26.1MW.
It also said Tenaga Wind and Longspur Capital Ltd -- a renewable energy infrastructure asset manager – had also entered into investment management agreements.
Longspur Capital is manned by experienced personnel from both Temporis Capital Ltd and Bluemerang Capital Ltd, former asset managers of the acquired firms.
“The purchase equity consideration of 77.37mil pound sterling is the 80% equity value based on the agreed and fixed enterprise value (EV) of 171.23mil pounds for the purchase of 53 wind turbines. The equity value is also based on net debt and working capital adjustment at completion,” it said.
The acquisition will add another c.26.1MW, raising Tenaga’s total international renewable energy portfolio to c.280MW.
Did you find this article insightful?