A longstanding Buckinghamshire onshore wind farm is under new ownership after being acquired by leading renewable energy developer OnPath Energy.
The Sunderland-headquartered firm has purchased the Milton Keynes Wind Farm, which sits two miles to the east of the village of Emberton, from GCP Infrastructure Investments Ltd in a transaction which represents OnPath’s first move into southern England.
The seven-turbine wind farm has been operational since 2010 and has an installed capacity of 14MW, which is enough to meet the annual electricity needs of around 11,500 homes.
The community benefits package linked to the wind farm will be fully maintained by its new owners, with OnPath now looking at ways in which local involvement might be enhanced.
OnPath Energy has worked in the renewable energy sector for almost 20 years, and currently owns and operates 11 other onshore wind farms across Scotland and England.
Work on building its first two solar energy projects, both of which are in Yorkshire, is currently underway.
Richard Dunkley, CEO at OnPath Energy, says: “As we continue to develop our own renewable generation projects from first principles, we will also be looking to identify strategic asset transaction opportunities at every stage of the lifecycle, from pre-construction right through to operational wind farms and project repowering.
“The Milton Keynes Wind Farm represented a strong fit with our strategic development strategy and its acquisition provides a positive outcome for all concerned, including the local communities that will continue to benefit directly from the revenues that it generates.”
Philip Kent, Chief Executive Officer at Gravis Capital Management, the Investment Adviser to GCP Infrastructure Investments Ltd, commented: “We are pleased to be selling the wind farm to OnPath Energy, who we are sure will be excellent stewards of the asset and will continue to create benefits for all relevant stakeholders."
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