MONEY MATTERS
NEW £35M WIND ENERGY INCOME FUND
Resonance Asset Management LLP have completed the acquisition of Strath of Brydock wind farm with international renewable energy consultancy Natural Power acting as lead technical due diligence engineer.
Resonance Asset Management, an alternative asset management firm focused on originating, distributing and managing real asset investment funds for institutional investors, recently confirmed they have raised £35m for its inaugural wind energy income fund.
STRATH OF BRYDOCK WIND FARM
The fund appointed Natural Power to carry out technical due diligence on their first acquisition of the Strath of Brydock wind farm. The site, located west of Banff, Aberdeenshire, Scotland is a 6.9MW wind farm with 3 Enercon E70 turbines and has been operational with Muirden Energy for the past three years.
Natural Power provided Resonance with the following services in order for them to assess the acquisition of Strath of Brydock…
• Energy production review and analysis • Site visits to visually assess the condition of project infrastructure
• Contracts review – turbine supply, warranty and asset management
• Review of historical planning and other permit conditions
• Review of land lease agreements • Balance of plant – electrical review and grid connection
Natural Power again during the ongoing acquisitions within this fund and have been impressed by their ability to offer such holistic due diligence services in the sector.”
Natural Power’s Due Diligence services are based on a wealth of full lifecycle consulting experience of over 15 years, having…
• Successfully delivered building consents and environmental permits over 2000MW of wind energy projects, both onshore and offshore, for a broad range of developers
Marco Pipparelli, Head of Due Diligence UK commented on the project “It is with great pleasure that we have opened the doors on Resonance’s new wind fund, with this initial purchase of Strath of Brydock. We are keen to continue working with them on new acquisitions moving forward, providing competitive due diligence advice based on almost two decades of renewable consulting experience.”
Francesca Collins, Resonance Asset Management said “Resonance Asset Management launched their inaugural wind energy income fund focused on wind capacities of between 2MW and 10MW. Natural Power has advised us successfully on this first acquisition of 6.9MW Strath of Brydock wind farm. We look forward to working with
• Managed the pre financing and post financing construction process on over 1100MW of wind farm projects
• Provided comprehensive asset management services for over 2000MW of operating wind farm capacity, constituting 32% of the total wind onshore installed capacity in the UK
Natural Power
www.naturalpower.com
www.windenergynetwork.co.uk
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