JLL advises Wind2 on 570MW UK onshore wind transaction with Octopus Renewables
JLL Energy & Infrastructure Advisory team has completed a joint venture transaction of 570 MW of UK wind farms to Octopus Renewables
London, January 31, 2022 – JLL has advised Wind2, a specialist onshore wind energy developer, on a joint venture transaction with Octopus Renewables Infrastructure Trust and another Octopus managed fund. Octopus will fund the development and ultimately acquire the projects when they reach ready-to-build status.
Wind2 will continue to manage the project development up to the point of acquisition. The 570MW pipeline comprises nine projects across Scotland and Wales at various stages of development, with the first due to come online in 2023.
This is the second transaction that JLL and Wind2 have collaborated on following the sale in 2020 of circa. 200MW onshore wind projects to EDP Renewables (Euronext: EDPR), the world's fourth largest renewable energy producer.
Sarah Smith, Managing Director of Wind 2 commented: “We are delighted to have achieved this important milestone for our business and our high-quality project pipeline. We thank JLL for running an efficient process that will ensure that Wind 2 has strong and experienced partners with whom we can convert our project pipeline into operating projects that can meaningfully contribute to the UK’s energy transition agenda.”
Andreana Todorova, Associate Director, Energy and Infrastructure Advisory at JLL, added: “We are pleased to have led this complex transaction between Wind2 and Octopus, which marks the start of a strategic relationship which will deliver over half a gigawatt (GW) of renewable power over the next ten years. We wish both teams all the best in their successful new partnership.”
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