JP Morgan unit to buy 409-MW UK wind portfolio from Infinis

Feb 10 (Renewables Now) - European private equity firm Terra Firma said Thursday that portfolio company Infinis has agreed to sell 409 MW of UK onshore wind farms to institutional investors advised by JP Morgan Asset Management.

In particular, the Infinis Group will sell 343 MW of operational wind farms plus a 66-MW project that should be completed by the end of the month. The group will retain 14 onshore wind schemes that are in the development phase. It will seek to sell them separately in due course, Terra Firma said.

The sale to JP Morgan Asset Management is expected to wrap up in the second quarter of 2017. The financial terms of the deal were not disclosed.

“The acquisition continues our investment momentum in renewables, complementing the existing investment base, and increases our renewables energy production capacity to over 3,200 MW," said Matthew LeBlanc, chief investment officer at JP Morgan Asset Management, Infrastructure Investments Group.