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Hermes GPE Infrastructure takes £59m stake in Scottish wind farm

31 May 2013

Hermes GPE Infrastructure Fund has acquired a 50 per cent stake in the 72MW Braes of Doune wind farm in Stirlingshire, Scotland, for £59m in cash.

The fund, managed by Hermes GPE, acquired the stake from UK energy utility Centrica, who bought it in August 2007 for £42m.

The company will continue to receive 100 per cent of the wind farm’s output under a power purchase agreement. The sale is in line with the company’s strategy to release capital from operational wind assets to “enhance returns”.

Hermes GPE Infrastructure Fund is invested in both infrastructure funds and co-investments, however the principle focus of the fund going forward will be co-investments, it said.

Hermes GPE is currently invested in approximately 200 funds and 60 co-investments across the globe as well as a portfolio of infrastructure assets, managing close to £6bn.

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