Irish wind farms are capital investment

The Irish Infrastructure Fund, which is managed by AMP Capital, has bought a controlling stake in a portfolio of 10 wind farms, eight of which are located in the Republic of Ireland, from the Viridian Group. AMP Capital managing director for Europe, Boe Pahari, commented: “Ireland benefits from one of the most attractive wind resources in Europe, with exposure to the prevailing south-westerly winds of the Atlantic Ocean making it an exceptional location for wind energy generation.”

The deal is the first investment made by the Irish Infrastructure fund, which will seek up to €1 billion from global and Irish institutional investors. The fund will focus on infrastructure assets which underpin the Irish economy with the aim of enhancing long-term value for institutional investors. It has already secured €300 million from the National Pensions Reserve Fund (NPRF) and other Irish institutional investors. Pahari added: “We continue to progress an active deal pipeline consistent with our strategy of investing in quality Irish infrastructure assets across a range of sectors. We see this transaction as potentially the first in a number of additional investments in the renewable energy space in Ireland.”