Tenaga unit completes acquisition of UK wind farms

KUALA LUMPUR: Tenaga Nasional Bhd's wholly owned subsidiary Vantage RE Lrd has completed its acquisition of a 100% stake in a 97.3MW onshore wind portfolio in the UK from several funds advised by Capital Dynamics, a global private asset management firm, for GBP145.9mil.

In a statement, Tenaga said the wind portfolio comprises operational onshore wind farms across 11 sites in the UK that were developed under either the Feed-in Tariff or Renewable Obligation Certificate subsidy regimes, which are expected to provide stable long-term revenues.