Foresight 3 VCT : acquires 14.4MW wind farm

LONDON, 3 September 2018: Foresight Group LLP ('Foresight') announces the acquisition of the 14.4MW wind farm in North Pickenham, from German renewables company, ENERTRAG AG ('ENERTRAG').

Located in Norfolk, the North Pickenham wind farm has been operating since 2006 and consists of eight Vestas V90 wind turbines, with a totalled installed capacity of 14.4MW. ENERTRAG led the original development, financing and construction of the wind farm and has provided operational management from the outset. The project benefits from a long term full service Operating and Maintenance Agreement with Vestas.

This acquisition is the sixth wind farm acquired by Foresight in the last 12 months with a total generating capacity of 102MW, following the acquisition of the 83MW wind portfolio from companies managed by Belltown Power earlier this year and the acquisition of the 5MW Kinegar wind farm in 2017. Foresight is currently monitoring a large pipeline of both domestic and international wind opportunities for future deployment over the next 6 - 12 months.

ENERTRAG is an independent energy company, covering the complete value chain of renewable energy projects from planning to commissioning. ENERTRAG has successfully erected and commissioned 667 WTGs in Germany and France and has 1,400 WTGs under management.

Foresight is a leading renewables infrastructure investor with c.£2.2 billion invested in 145 renewable generation assets globally, with a generating capacity of 1.6GW. Foresight manages 160MW of Reserve Power assets and two utility scale Battery Storage projects providing 45MW of Enhanced Frequency Response ('EFR') services to National Grid, as well as 158MW of Bioenergy and Waste projects processing over 2.2 million tonnes of waste per annum.

Charlie Wright, Senior Investment Manager, Foresight Group commented: 'We are very pleased to have acquired the North Pickenham wind farm from ENERTRAG. The farm has a great production record over the last 10 years and further cements Foresight's position in the UK wind market. With a number of deals in the pipeline, we look forward to further acquisitions in the sector over the coming months.'

Simon Hagedorn, Head of Finance and M&A, ENERTRAG, commented: 'We are delighted to have completed this deal with Foresight Group especially with their exceptional track record in the renewables industry. Through the sale of this UK wind farm, ENERTRAG can strengthen its wind activities in our core markets of Germany, France and Poland, as well as invest in new market opportunities such as sector coupling. Following our recent expansion into the South African market, ENERTRAG is increasingly becoming a global energy company and we look forward to working with Foresight again in the future.'

Foresight was advised by Ashurst (legal), Everoze (technical) and PKF Francis Clark (commercial, financial and tax).

ENERTRAG were advised by DWF (legal).

ENDS

For more information please contact:

Ben Thompson, Foresight Group, [e-mail] | [phone]

NOTES TO EDITORS

About Foresight Group LLP ('Foresight'):

Foresight is a leading independent infrastructure and private equity investment manager which has been managing investment funds on behalf of institutions and retail clients for more than 30 years.

Foresight has over £2.5 billion of Assets Under Management across a number of institutional and UK retail funds.

Foresight is a leading renewables infrastructure investor with c.£2.2 billion invested in 145 renewable generation assets globally, with a generating capacity of 1.6GW. Foresight manages 160MW of Reserve Power assets and two utility scale Battery Storage projects providing 45MW of Enhanced Frequency Response ('EFR') services to National Grid. Foresight manages Bioenergy and Waste projects with 158MW capacity, processing over 2.2 million tonnes of waste per annum.

In Bioenergy, Foresight has mobilised £900m of capital investment into 32 waste projects, which when fully operational with have a waste processing capacity of over 2 million tonnes per annum, diverting some 1 million tonnes of waste from landfill every year and generating 136MW of clean energy, saving more than 750,000 tonnes of CO₂ emission every year.

Foresight is headquartered in London with regional offices in Manchester, Nottingham, Milton Keynes, Leicester and Guernsey and international offices in Sydney, Rome and Seoul.

www.foresightgroup.eu