GLIL Infrastructure has invested in Irish wind farms through the acquisition of a majority stake in Invis Energy鈥檚 portfolio.
GLIL, the 拢2.5bn (鈧�2.9bn) fund backed by a number of UK local government pension schemes, said it has bought the 鈥渟ignificant majority equity stake鈥� in the portfolio of 11 operational onshore wind farms alongside existing shareholder the Craydel Group.
The 453MW portfolio, established in 2011, provides around 11% of the Republic of Ireland鈥檚 installed wind capacity. The windfarms are in County Galway, County Kerry, County Donegal, County Cork and County Mayo.
The investment is GLIL鈥檚 first major transaction outside of the UK.
David Olliver, investment lead at GLIL Infrastructure, said: 鈥淥nshore wind capacity is a critical component of renewable energy generation and Ireland鈥檚 transition to a net zero carbon future. Our investment in these windfarm assets will not only provide a significant boost to supporting that ambition but will also generate sustainable, long-term returns for our millions of pension fund members.
鈥淲e鈥檙e now focused on working closely with the Craydel Group, a strong local partner, to maintain the portfolio and deploy more capital into the Irish renewable energy sector.鈥�
Invis Energy will continue to operate the portfolio following the investment.
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