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PRINT THIS PAGE HgCapital backs RidgeWind07/06/2007. Source: AltAssets. 
 HgCapital, through its Hg Renewable Power Partners fund, has acquired a substantial equity stake in Oxfordshire, UK-based wind developer RidgeWind. HgCapital's investment includes the acquisition of a majority stake in the company, expansion capital and long-term equity for RidgeWind's wind development pipeline.
RidgeWind was formed in 2003 to pursue the development of small to medium-sized wind farms in the UK. The company is developing over 200 megawatts of UK wind projects spread across 12 sites. Its portfolio includes the recently permitted 16 megawatts Bagmoor Wind Farm in Lincolnshire, which is a joint venture with Wind Prospect and which will start construction later this year.
In a separate transaction, HgCapital has acquired the majority of Wind Prospect's interest in the Bagmoor project.
The RidgeWind investment brings HgCapital's European renewable energy portfolio to over 120 megawatts in construction or operation and 700 megawatts in development, according to a statement.
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