The Infrastructure team, part of the international business of Federated Hermes, is pleased to announce that Hermes Infrastructure Fund I (“HIF I”) has sold a 50% interest in Braes of Doune wind farm to Greencoat UK Wind PLC (“UKW”), for a consideration of £48.1m.
HIF I acquired the 50% interest in Braes of Doune from Centrica PLC in 2013. UKW now owns 100% of the wind farm, having acquired its original 50% stake in March 2013.
Hamish de Run, Head of the Infrastructure team, commented, “Braes of Doune has delivered upon our original investment thesis, following our early entry as an onshore wind investor in 2013. The investment has had a positive impact on ESG targets including contributing towards energy transition in the UK and driving responsible investment outcomes. We are delighted to have achieved a successful realisation for our clients.”
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For further information, please contact:
The International business of Federated Hermes
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The Infrastructure team of Federated Hermes is a specialist investment manager providing institutional investors equity investment opportunities in infrastructure across the UK and Europe. Established in 2011, we manage £3.1 billion of existing investments (NAV as of 30 September 2020).
Federated Hermes, Inc. is a leading global investment manager with $619.4 billion in assets under management as of December 31, 2020. Guided by our conviction that responsible investing is the best way to create wealth over the long term, our investment solutions span 162 equity, fixed-income, alternative/private markets, multi-asset and liquidity management strategies and a range of separately managed account strategies. Providing world-class active investment management and engagement services to more than 11,000 institutions and intermediaries, our clients include corporations, government entities, insurance companies, foundations and endowments, banks and broker/dealers. Headquartered in Pittsburgh, Federated Hermes’ more than 1,900 employees include those in London, New York, Boston and several other offices worldwide. For more information, visit FederatedHermes.com.